Recently, we discussed oil prices and their affect on the oil & gas industry with Zacks senior analyst Sheraz Mian. He helped give us some well-needed perspective, as well as his top picks within the space.

Oil prices have been steadily coming down in recent days – from the all-time high of around $147 to under $110 at present. Are we seeing the bursting of the oil bubble?

I wouldn’t call crude oil’s strength of the last few years as a bubble. While some ‘irrational exuberance’, to borrow a phrase from the former Fed Chief, could have been at work in oil’s doubling in price over the past year prior to its recent pullback, there are nevertheless sound fundamental reasons for the commodity’s historical strength.

The mismatch between the growth rates of supply and demand has been the driving force behind the current oil price cycle. The current pullback reflects

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“The Asian rally is under way,” says Yiannis Moustrous, editor of The Silk Road Investor. Here, he looks at a favored pair of NYSE-listed banks; one in India, the other in South Korea.

“The latest rally started from depressed levels, particularly in comparison to other regions of the world.

“Further, the current oil price weakness–if sustained–will act as a positive catalyst for Asian economies that are net oil importers.

“Extreme selling conditions usually set the stage for a rally, which can be rather substantial when a lot of cash is on the sidelines, a lot of short positions need to be covered and marginally positive news emerges. These conditions are currently in place in Asia.

“The previous selloff is giving us the opportunity to add one more position to our India holdings:ICICI Bank. I’ve recommended this company before, and I view it as one of the stronger private banks in India.

“It also offers decent insurance exposure, a sector that has

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