Just wondering what your latest thinking is about oil
I firmly believe the world will have diminishing oil reserves, if it hasn't already started
Just wondering when you think supply and demnd are equal
I think we will have to use nuclear for energy at some time
All the other stuff made from oil will cost plenty
Just car tires alone uses lots of oil
I can't imagine all the other stuff made from oil
We are currently in a bull market in oil. the lows we had at $26.10 a few years ago and then the low we had at $42 are solid lows that will never be broken. It is taking time for Oil to move higher but it will happen. I have a cycle high due in 2020 and the only way for this cycle to fulfill itself is if the US attacks Iran. I have no knowledge that his will happen, but the charts say it will. Over all I am still sticking to $350 going into 2026, so there are other concerns around other then the war.
....... GLASS=PACKS ....
dude...... 300 acres of sweetcorn awaits you
May 28, 2019 / 8:08 PM / Updated 2 hours ago
3 Min Read
SINGAPORE (Reuters) - Oil prices fell on Wednesday on concerns the Sino-U.S. trade war could trigger a global economic downturn, but relatively tight supply amid OPEC output cuts and political tensions in the Middle East offered some support.
Previous oil discussions:
Crude 3 months below
Crude 1 year below
metmike: Crude supplies have been going way up. In 4 of the last EIA reports, the increases were 4.7 M or more. In fact this has resulted in an increase of more then 20 M during the period.
|May 30, 2019||11:00|
|May 22, 2019||10:30||4.740M||-0.599M||5.431M|
|May 15, 2019||10:30||5.431M||-0.800M||-3.963M|
|May 08, 2019||10:30||-3.963M||1.215M||9.934M|
|May 01, 2019||10:30||9.900M||1.485M||5.479M|
|Apr 24, 2019||10:30||5.479M||1.255M||-1.396M|
Weekly US ending stocks of crude oil.
Weekly ending stocks for unleaded gasoline.
Weekly US ending stocks for distillate fuel oil(heating oil-especially used in the Northeast).
Current gas prices:
Actually, gas prices have dropped almost 15c in recent trading, since the highs around in late April.
3 months below
1 year below
10 years below
Chart suggests support near 55. Timing says near term low this week.