In the short term yes, and this is the DT thread so we can all trade the trade. But i'd be wary of anything long term. Some say the IO price is going to bounce and find a new norm at around $60. Some say this is a bear market rally and the supply/demand equation still suggests far more pain to come.
I'm siding more with the later - someone with far more experience than myself pointed out that bear market rallies tend to run high and fast then fall back equally as fast, where as a true end of a bear market is usually market by a slow and steady grind upwards.
I guess time will tell us who is right. Trades to be had in the mean time.
