Crude Oil. Where Is It Going? Here Is My Take.
From Greg M
Lions…
By request, I have done a breakdown of where I believe crude oil is going, both short and longer term
Here it is below. (Please feel free to agree or disagree with my outlook). I would like to hear from you on this.
As we know, crude oil prices are greatly influenced by geopolitical events… and IMO, to a lesser degree, market dynamics.
Recently, the U.S. government's plan to refill the Strategic Petroleum Reserve has tightened global oil supply. (Is there something else going on here? Refilling the US Strategic Reserves right now may be telling us to beware of something), any ideas?
However, concerns over weak demand on the back of a rapidly slowing global economy have kept prices lower.
In the short run, I expect crude oil to remain under pressure, UNLESS the geopolitical situation changes.
Longer term I remain bullish. I believe its only a matter of time before we see markedly higher energy prices.
GM
Oil won't be down for long. The US has quietly been sending billions in weapons to Israel. I think we know Iran is next. Once that shit hits the fan oil prices will explode.
If you think the DeepState / Globalists still have their agenda of subjugating China and Russia by way of destroying Iran first then at the rate of filling the SPR before the West goes to war with the rest of the world is about a 2 year time frame. Also the West is rapidly running out of time to have the military capability. My wish is that humanity (the normal people) can stop our sociopathic narcissistic psychopathic "leaders" from destroying and enslaving humanity. If every human being on earth bought 1oz of physical silver it will collapse the central Banks and we will be free. There is also the cosmic story that humanity needs to solve by working together instead of fucking each over. Look into Randall Carlson' Catastrophism.
SPR Strategic Petroliam Reserve
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=WCSSTUS1&f=W