JPMorgan Says Ignore Oil Market Noise, Long Puts

Oil ended October much as it started September, a JPMorgan research piece noted. But be patient, the letter advises. The price of oil is headed lower.

JPMorgan: Ignore the noise in the oil market

The “muted” weekly closing oil price changes conceal an alter ego of high intraday volatility that markets have experienced over the past few weeks, the report noted.  Research analysts David Martin and Upadhi Kabra think the strong oil rally in early October faded over the balance of the month with oversupply remaining the dominant market the price outlook, which was confirmed by EIA monthly data that confirmed US production continues...