Is crude oil entering a new super-cycle? Don’t count on it

MUMBAI: The rapid rise in global crude oil prices since the US presidential elections has given steam to speculation about a new super-cycle in one of the world’s most consumed commodities.

Brent futures have soared over 80 per cent since the beginning of November, as traders have placed their bets on the faster-than-expected normalisation of the global economy on the back of Covid-19 vaccine rollout and over $2 trillion in fiscal stimulus in the US.