Crude oil is up for a third straight day this morning, which has taken the price of WTI above $50 per barrel to $51.10.  At this level, crude oil has now taken out its highs from last October and is trading at its best levels since 7/15/15.  It has certainly been an amazing rally for oil prices over the last four months, with prices rising 96% off their lows in February.  If the price rises another dollar, it will be a clean double.  Going forward, it will be interesting to see if there is a point where financial markets become concerned that prices have risen too high.  That point is probably a way off, but while we may be dating ourselves here, there was a time when $50 crude was considered a bad thing.

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