Bull, bear scenarios conflict in oil markets. (Market Hotline).(includes political, economic analysis )

Oil markets are turning into quite the menagerie these days, what with all the bears and bulls running into each other.

We have the unprecedented circumstance of an imminent outbreak of war that could involve extensive damage to oil facilities in several key oil exporting countries in the Persian Gulf occurring simultaneously with the loss of major supply elsewhere (Venezuela). Nevertheless, some of the bears are starting to stir from their winter hibernation. Part of the bears' concern is near-term and centers on Venezuela. As the general strike winds down in that country and oil production ramps back up, some within the Organization of Petroleum Exporting Countries …