Oil prices continue its strong start to the year

"Fundamentals" or not, oil continues to make strides after breaking out of the December wedge that I highlighted back then here.

It took out $60 with ease, and since then it hasn't looked back. Seasonally, January has not been a good month for crude:

Out of the last eleven years, it has only gained twice for the month of January. But as of today alone, it is already up nearly 6% on the month.