Commodity Bubble Proponent

Is the Commodity Bull Market Over?

We haven't topped out yet. But we're getting close.

Some interesting signs:

1. Iran has doubled the amount of crude oil sitting in tankers waiting to be delivered, creating a ship shortage (20 million barrels as of today). If demand was so hot as everyone is claiming, that should be gone.

2. Saudi Arabia just cut it's benchmark discount on all of its varieties of crude. Why would they do that if the demand was as hot as everyone claims? (source: Bloomberg)