Oil entered bear market territory this week as WTI and Brent fell more than 20 percent from their June peaks. WTI even dropped below $40 per barrel for the first time in three months and oil traders have become incredibly pessimistic about the trajectory of oil prices, settling in for another summer swoon. But several prominent voices believe that the bear market could be over in a flash. Notable oil trader Andy Hall says that there could be a “violent reversal” in the near future for oil prices. And analysts from Citigroup, Bank of America Merrill Lynch, BNP Paribas and Wood Mackenzie also see a turnaround coming. Of course, there is no guarantee that oil analysts have it right, but the options market also reflects confidence in a near-term rebound. The premium paid for protection against further losses in oil prices has plunged, reflecting little worry […]