Oil is setting up for a monster rally (USO, WTI, OIL, VDE, BNO)

REUTERS/Essam Al-Sudani Bank of America Merrill Lynch is bullish on the energy sector again. In a note out Tuesday, Savita Subramanian, the head of US equity and quant strategy at BAML, said the bank had upgraded the sector to "Overweight" from "Market weight," with the expectation that it will outperform the S&P 500. "Our commodity strategists estimate that most of the sell-off in oil prices is behind us, as they look for WTI oil prices to rally to $54/bbl (+17%) by the end of the year and $69/...