Dozens of tankers with unsold crude have been amassing at sea in the past few weeks, vividly reminiscent of 2015 when a recovery in oil prices was scuppered by rising physical supply. Oil futures have rallied some 75 percent so far this year, reaching a 2016 high above $47 a barrel, fueled by the belief that nearly two years of excess has abated. Investors have poured cash into the oil market at the fastest pace on record, according to exchange data, and hold a record amount of Brent crude futures. <0#CFTC:> [O/ICE] But the physical market is flashing warning signs, setting up for a possible sell-off, much like what happened in spring last year. “We…see worrying parallels to 2015, when oil prices rose sharply well into […]