By Chris Igou
A 23% decline in a month completed oil's round trip.
The commodity was trading around $75 per barrel before soaring to $120 in the first half of 2022. Then, oil fell... and fell some more.
From November 4 to December 9, oil fell 23% to its lowest level in more than a year. That's a scary move to the downside. But it wasn't the nail in the coffin for oil that you might think...
More often, quick drops like these can't last. The sprint lower eventually ends. And when that happens, assets can come roaring back.
Since its bottom in December, the price of oil is up 15%. But the rally isn't over yet.
This comeback is likely just getting underway. And one hot streak shows just how good it could get going forward...