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Oil Prices to Fall This Summer, Says the Smart Money: StockTwits

Stocks in this article: USO

Data added to the bullish sentiment today. A U.S. government report showed a larger-than-anticipated decline in crude supplies. It also showed rising gasoline stockpiles.

Some investors believe oil could retest recent highs given the data and the recent performance of light, sweet crude futures.

$CL_F $USO $OIL Bull flag after a nice run. Futures trading higher now. Could re-test recent highs. http://stks.co/s0OPj ? JD Parsons (@weeklystockcharts) Jun. 4 at 06:10 AM

But Kosar is taking his cue from the smart money in the oil business.

At the time of publication, the author held no positions in any of the stocks mentioned.

This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.

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