"The misread of the market again illustrates oil’s unfathomability—despite being studied..."

“The misread of the market again illustrates oil’s unfathomability—despite being studied microscopically for 140 years by some of the highest-paid quants and analysts on Earth, oil confounds with maddening regularity.”

-

Steve LeVine, The US bet big on American oil and now the whole global economy is paying the price

LeVine’s piece is dead on, except his implicit argument that the oil market should have been ‘fathomable’, but who says? The reason prognosticators can’t call the market is that our vision is limited: we can’t see around all corners. 

from Stowe Boyd http://stoweboyd.com/post/138476993587