Oil prices are still massively higher than they were a week ago but Citi believes that the surge is pretty much devoid from reality. Crude oil rocketed nearly 30% in just three days, its biggest three-day rally in 25 years . Since Friday August 28, oil over 20% higher. Today, crude oil prices are initially ebbing off ever-so slightly. But while crude oil is hovering around $47.86, the chart shows the undeniable explosion in prices over the last few days. NYMEX crude oil price over the last five days. Marketwatch.com However, the spike isn’t good news, considering oil prices are still around 50% lower than they were at their peak in the summer of 2014. Edward L Morse and his team at Citi, in a note entitled “The Oil Price Surge” sent to investors this morning, say that the markets may be in for a nasty shock as people […]