Invested: Uncertain Futures and Crude Economics

We are in a new normal of systemically low oil prices, writes Constantin Gurdgiev

Traditionally, oil acts as a hedge and a safe haven against currencies and bond market volatility. Not surprisingly, during the upheaval of the US presidential election result, when the dollar went into a temporary tailspin, equities and bonds prices fell, all eyes turned to the risk management staples: gold, oil and, on the more exotic side, Bitcoin.

Gold and Bitcoin did not surprise, gaining in value amid a general markets sell-off. But oil ...