(09-15-2021, 03:08 PM)MrFortune Wrote: $100 oil we will never see it. At least now until 2023 and beyond. The only reason why oil is up so much today is because of the hurricanes and all and the people who play the short supply game.. Oil will be in that $60-$70 range for a long time. The saudis wont allow oil to get past a certain level like $72-75. I bet oil gives back today's gains at end of week.Market pendulums believe in momentum and always over shoots in both directions. Could u ever imagine -ve oil prices?
As Cramer said... Fossil fuel stocks, “feel like a slowly melting ice cube, a wasting asset that will have down revenues unless the price of crude jumps signifyingly higher and stays higher.
Coal supposed to be a dyeing commodity, guess what it's price triplled in last 1 year. We are in for demand supply shock. People think reopening has happened. Its not even half reopening yet. Wait till next year. I donno how high it will go but we are aiming for higher oil prices in my opinion.