Oil has now rallied 108% over the last 118 calendar days. Based on the standard bull market defintion of a 20% rally preceded by a 20% decline, the current oil bull is already the sixth strongest since daily pricing begins in 1986. In terms of duration, it only ranks 14th out of 26. The average gain for prior oil bull markets has been 66.09%, while the average duration has been 217 days. This makes the current rally in oil nearly twice the average bull market gain in nearly half of the average duration.
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