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BCO soon again 120 AND OIL READY FOR 150 BEFORE TACKLING 220USDOil Could Rise to $120-150 Range in Next Few Months Oil price forecast April 2022 and beyond: Will prices test $140? Oil prices eased slightly on Friday, robust US data and weekend risk supporting prices, while US SPR releases as well as yet to be determined ones from other IEA members capped gains. A UN-brokered two-month ceasefire between Saudi Arabia and Yemen’s Houthi rebels has had no noticeable impact on prices today. The China holiday is definitely muting trading volumes in Asia today, leaving Brent crude unchanged at USD 104.50, and WTI unchanged at USD 99.35. With mainland China, Hong Kong and Taiwan all on holiday tomorrow, I expect the first part of the week in Asia to be quiet. Overall, I still expect Brent to trade in a choppy USD 100.00 to USD 120.00 range, with WTI bouncing around in a USD 95.00 to USD 115.00 a barrel range. The US SPR and monthly OPEC+ production hikes balanced out by geopolitical tensions elsewhere. Nearly five weeks after Russia’s invasion of Ukraine, there is no sign of the oil market's increased volatility abating anytime soon. Dollar Unlikely to Lose Dominance Due to Sanctions -- Market Talk 1435 GMT - Claims that the dollar could lose its dominance in the global economy due to western sanctions against Russia appear exaggerated, Capital Economics says. The sanctions imposed on Russia will accelerate the development of bilateral trading blocs that use alternative currencies but this won't rival the scale and reach of the dollar, Capital Economics says. The dollar remains the world's leading reserve currency but its role as the dominant currency for settling cross-border transactions is more important from the perspective of geopolitical influence, it says. "Foreign demand for dollar assets creates the deep and liquid markets that underpin the dollar's global dominance WEAK USDOLLAR IS POWER BOOSTER FOR THE OIL PRICE as many countries use the weak USD to buy more oil beacuase they are afraid of further sanctions and paying more for expencieve oil. If you knew that 12months from now one barrel oil willcost 300USD,wouldn´t itbe a nice situation to buy oil right cheaper as it cots now? Think Big. Oil prices shot up to $100/barrel (bbl) on the day Russia invaded Ukraine (24 February 2022) and continued to rise in the first week of the conflict. On 7 March, international benchmark Brent oil futures hit nearly $140 per barrel (bbl), while US oil futures West Texas Intermediate (WTI) reached $130/bbl. The prices spiked after the US and its European allies sought to ban the purchase of oil from the Russian Federation amid the conflict in Ukraine. Since then, Brent and WTI have retreated due to several factors, including concerns about demand as a fresh Covid-19 flare-up forced China – the world’s largest oil importer – to impose a large-scale lockdown. However, prices have remained above $100/bbl. Will oil prices hold at their current level of above $100 for the rest of this year? Dive into the impact of the ongoing Russia–Ukraine conflict and other factors on the oil price projections and read the latest on oil prices 2022 from analysts. Oil steadies as IEA prepares details of reserve release Oil prices have pulled back considerably since peaking last month in the early days of the invasion. Declines over the last couple of weeks have been aided by lockdowns in China and a massive SPR release by the IEA, the details of which should become known early this week. The US has already made its contribution known which will go some way to easing the tightness in the market and supply shock from Russia, where sanctions are biting. This is only a temporary solution but offers a buffer over the next six months as producers ramp up production, including OPEC+ which has until now refused to accelerate its efforts in any significant way. Oil prices remain high but they’re certainly at more sustainable and less economically threatening levels. WTI slipped below USD 100 and could remain there depending on the full details of the IEA release and the length of Chinese lockdowns but the war in Ukraine remains a significant upside risk. Gold holding up as recession signals flash Gold is holding up fairly well in the face of multiple super-sized rate hikes being priced into the markets and risk appetite remaining fairly strong. The inflation risk is seemingly providing plenty of support which is why we’re seeing so many rate hikes being priced into the markets, along with the downside economic risks that continue to mount. One thing that has come with these super-sized hikes is recession risks, as evident by the inversions we’re now seeing on the US yield curve. The 2-10 inversion is now clear for all to see and has previously been a fairly reliable recession indicator. Of course, it doesn’t offer any kind of specific timeline and there are doubts about its reliability in an enormous Fed balance sheet world. The economic data may also provide some comfort. But gold is holding firm and is actually up marginally on the day. It appears to have consolidated just above USD 1900 over the last few weeks with brief dips below being quickly bought into. Equally, it’s not making any real headway to the upside, making it quite a choppy market at the moment that offers little in the way of directional clues. Oil rose for a third day as support grows for a European Union ban on Russian crude. Expectations of a further escalation of the war is also helping to drive prices higher. Oil products price forecast update April 2022 Crude oil prices typically fluctuate based on seasonal demand and supply. Most recently, the COVID-19 pandemic caused crude price changes through a drop in demand. While economic recovery is underway, oil prices continue to be affected by global uncertainties. Key Takeaways The EIA forecast that Brent crude oil prices will average $82.87/b in 2022. WTI is forecast to average $79.35/b in 2022, up from $68.21/b in 2021 . Oil prices are rising due to an increase in demand and a decrease in supply. OPEC is gradually increasing oil production after limiting it due to a decreased demand for oil during the pandemic. Current Oil Prices There are two grades of crude oil used as benchmarks for other oil prices: the West Texas Intermediate (WTI) at Cushing and North Sea Brent. WTI at Cushing comes from the U.S. and is the benchmark for U.S. oil prices. North Sea Brent oil comes from Northwest Europe and is the benchmark for international oil prices. Internationally, Brent crude oil prices averaged nearly $75 per barrel (/b) in December 2021, down $6/b from November's average. Prices increased in January, up to $87/b, but they are expected to average $82.87/b in 2022, according to the U.S. Energy Information Administration's (EIA) Short-Term Energy Outlook released on Feb. 8, 2022. West Texas Intermediate averaged $71.71 per barrel in December 2021, and rose to $79.39/b on Jan. 4, 2022.1 The EIA forecasts that WTI prices will average $79.35/b in 2022, up from $68.21 in 2021.2 Oil prices are affected by several factors that include everything from weather to economic and political instabilities. It also estimates that global oil and liquid fuels demand was 101.08 million b/d in December 2021. That's an increase of 5.52 million b/d from December 2020, but only 0.24 million b/d lower than December 2019. However, the EIA expects demand to average 100.52 million b/d in 2022.3 2021 Oil Prices Brent crude oil prices started low in 2021, averaging $54.77/b in January.4 But they rose in the second quarter, closing at $67.73/b in April 2021. West Texas Intermediate (WTI) at Cushing in the United States performed similarly, closing at $63.50/b in April. The third quarter saw massive hikes in prices, with Brent prices increasing to a height of $84.52/b in early November, and WTI reaching $85.64/b in late October. By the end of 2021 Brent sold at $77.24/b, and WTI at $75.33/b.56 Oil Price Forecast 2025 to 2050 The EIA predicts that by 2025 Brent crude oil's nominal price will rise to $66/b. By 2030, world demand is seen driving Brent prices to $89/b. By 2040, prices are projected to be $132/b. By then, the cheap oil sources will have been exhausted, making it more expensive to extract oil. By 2050, oil prices could be $185/b. WTI per barrel price is expected to rise to $64 per barrel by 2025, increasing to $86 by 2030, $128 by 2040, and $178 by 2050.7 The EIA assumes that demand for petroleum flattens out as utilities rely more on natural gas and renewable energy. It also assumes the economy grows around 1.9% annually, while energy consumption decreases by 0.4% a year.8 Future oil prices will depend greatly on innovations in energy, transportation, and other industries as societies work to become less fossil fuel dependent. Always understand.the oil companies shareholders want only one thing: HIGHER OIL PRICES! HIGHER PROFIS! Reasons for Today’s Volatile Oil Prices Oil prices used to have a predictable seasonal swing. They spiked in the spring as oil traders anticipated high demand for summer vacation driving. Once demand peaked, prices dropped in the fall and winter. Oil prices are more volatile today due to many factors, but four are the most influential. 1. US Oil Supply The coronavirus pandemic and natural events are still affecting oil demand and supply. The U.S. experienced a drop in production following Hurricane Ida in September as the storm shut at least nine refineries. The EIA estimates that U.S. crude oil production will average 11.8 million b/d in 2022 and 12.41 million b/d in 2023.9 2. Diminished OPEC Output Oil price increases also reflect supply limitations by the Organization of the Petroleum Exporting Countries (OPEC) and OPEC partner countries. In 2020, OPEC cut oil production due to decreased demand during the pandemic. It gradually increased oil output through 2021 and into 2022. Supply chain disruptions in late 2021 affected global trade as well. At its most recent meeting in December 2021, OPEC stated it would continue to gradually adjust oil production upward by 0.4 million barrels per day (mb/d) in January 2022.10 3. Natural Gas Countries in Asia have relied on coal to generate power, but recent shortages have turned them to natural gas. Higher temperatures in parts of Asia and Europe have led to high demand for natural gas to generate power. COVID-19 has hampered Europe's natural gas production, and a colder-than-expected heating season in early 2021 reduced supplies further. As a result, natural gas prices soared in 2021 and are expected to remain high in 2022, and affected countries have turned to gas-to-oil switching to reduce power generation costs.2 4. Global Inventory Draw As a reduction in oil production continues globally, countries are forced to draw from their stored reserves (not including the strategic petroleum reserves). This steady draw of oil is contributing to the increase in prices, because inventories are decreasing. How Biden’s Huge Strategic Oil Release Could Backfire President Biden’s huge SPR release announcement has pushed WTI prices back below $100. SPR release may calm crude prices only in the short term. U.S. SPR may need to be replenished at higher oil prices. This week, the Biden administration revealed that it will release as much as 180 million barrels of crude oil in a bid to calm oil prices, which have remained above $100 per barrel for an extended period of time. The International Energy Agency, meanwhile, is coordinating a smaller but international reserve release of some 60 million barrels and has called an emergency meeting to discuss how exactly to go about it. It remains unclear whether part of the 180 SPR release in the United States will be a completely separate endeavor or if some of these barrels will be part of the IEA release. Earlier this year, the U.S. had agreed to release 30 million barrels as part of the IEA push. What is clear is that the success of these releases in calming down oil prices is quite unlikely. The United States last year announced the release of 50 million barrels in an effort to bring down prices t the pump, which were eroding Americans’ purchasing power and weighing on the President’s approval ratings. This pressured prices for a few days before they rebounded, driven by continued discipline among U.S. producers, equal discipline in OPEC+, and a relentless increase in demand for the commodity. Then Russia invaded Ukraine, and the U.S. banned imports of Russian crude and fuels. It also sanctioned the country’s financial system heavily, making paying for Russian crude and fuels too much of a headache for the dollar-based international industry. Prices soared again before retreating some, but remain firmly in three-digit territory. Related: Why We Cannot Just “Unplug” Our Current Energy System As of mid-March, the Department of Energy said, some 30 million barrels of crude from the strategic petroleum reserve had been sold or leased. That’s more than half of the 50 million barrels announced in November, and it appears to have had zero effect on price movements. But the new reserve release is a lot bigger, so it should make a difference, shouldn’t it? It amounts to some 1 million bpd over several months, per reports about White House plans in this respect. Unfortunately, but importantly, oil’s fundamentals have not changed much since November. U.S. shale oil producers, the companies that a few years ago prompted talk among analysts that OPEC was becoming increasingly irrelevant, have rearranged their priorities. They no longer strive for growth at all costs. Now they strive for happy shareholders. This has given more opportunities to smaller independent drillers with no shareholders to keep happy. Yet these have also run into challenges, mainly in the form of insufficient funding because the energy transition has had banks worrying about their reputations and their own shareholders. Pandemic-related supply disruptions have also affected the U.S. oil industry’s ability to expand output. Frac sand, cement, and equipment are among the things that have been reported to be in short supply in the shale patch. Now, there’s a shortage of steel tubing, too. Meanwhile, OPEC is doing business as usual, sticking to its commitment to add some 400,000 bpd to oil markets every month until its combined output recovers to pre-pandemic levels. Just this week, the cartel approved another monthly addition of 432,000 bpd to its combined output despite increasingly desperate calls from the U.S. and the IEA for more barrels. OPEC has been demonstrating increasingly bluntly that its interests and the interests of some of its biggest clients may not be in alignment right now. It has refused to openly condemn Russia for its actions in Ukraine and has not joined the Western sanction push. Related: U.S. Oil Demand Has Been Vastly Overestimated On the contrary, OPEC is gladly doing business with Russia. And Saudi Arabia and the UAE, the two OPEC members that actually have the capacity to boost production beyond their quotas, have deemed it unwise to undermine their partnership with Russia by acquiescing to the West’s request for more oil. In this environment, releasing whatever number of barrels from strategic reserves could only provide a very short relief at the pump. Then, it may make matters even worse. As one oil market commentator on Twitter said about the SPR release news, the White House will be selling these barrels at $100 and then may have to buy them at $150. Indeed, one thing that tends to get overlooked during turbulent times is that the strategic petroleum reserve of any country needs to be replenished. It’s not called strategic for laughs. And a 180-million-barrel reserve release will be quite a draw on the U.S. SPR, which currently stands at over 580 million barrels. If oil’s fundamentals remain the same, prices will not be lower when the time to replenish the SPR comes. This seems the most likely development. The EU, the UK, and the United States have stated sanctions against Russia will not be lifted even if Moscow strikes a peace deal with the Ukraine government. This means Russian oil will continue to be hard to come by for those dealing in dollars or euros. According to the IEA, the shortfall could be 3 million barrels daily, to be felt this quarter. OPEC+ is not straying from its course. In some good news, at least, U.S. oil production rose last week for the first time in more than two months, by a modest 100,000 bpd.
OANDA:BCOUSDLong
by DaveBrascoFX
Brent Crude May Form a Big Bullish TriangleA few days ago, America announced the uncapping of strategic oil reserves, which are now at the lowest level in the last 20 years - about 570 million barrels. Regular sales of 1 million barrels per day of oil will lead to their reduction by another third. But today oil quotes are getting more expensive again, as the sale of oil from the US strategic reserve will not compensate for the Russian oil that has fallen out if the calls of French President Emmanuel Macron are heard and EU countries impose an embargo on imports from Russia. These new sanctions should target coal and oil, Macron said. Some European governments insist on imposing additional sanctions against Russia. I will not claim that Europe is hearing Ukraine to provocations and has already chosen Russia in advance as the culprit. The problem is that governments do not want to admit to themselves that the rejection of Russia's hydrocarbons is a big damage to the EU. Russian gas accounts for about 40% of natural gas imports to the EU, and oil accounts for about 25%, Sky News writes. The Germans have revised their views on "green energy" (abandoning nuclear power plants, switching to wind power). According to many economists, the ban on Russian energy supplies will lead to a reduction in German GDP by more than 5%. This decline will be the second largest since the Second World War. The German Economic Institute stated that the imposition of an embargo on oil and gas would lead to incalculable risks. In my opinion, the chances of introducing new sanctions are quite high, which means that oil prices will not only not fall, but may also continue to grow in the medium term. I assume the formation of a large bullish triangle on the daily chart with the stability of the growing trend, which started from the beginning of December 2021. A breakthrough for the maximum on March 24 will be an unambiguous signal for further price growth. Although the first signal to increase will be received if the triangle resistance line is overcome, which falls in the area of $ 117-118 per barrel. PS Does America really want to suppress the rise in gasoline prices? or is she confused about her plans?
OLong
by scavoanastasiia
ENSV When to Pull OutSo, if you've read anything I've written, you'll know I've been in ENSV for a little time now, averaged in price of 3.38. What I'm looking for in my exit if I end up taking a loss will be over the next couple of days. I am examining how well the stock maintains the ripster clouds and how well the MACD holds up. We currently have a cross over on the MACD and if continues to have a strong looking histogram to the downside as it does now, then I'll take an exit and hopefully without getting burned too badly. If it weakens, we are looking at the upside as we were before.
E
by thephysicsguy1
1
WTI REMAINS INDECISIVEWTI prices remain highly volatile and highly responsive to the news following the russian invasion in Ukraine. After some progress in the peace talk between Russia and Ukraine in Istanbul, the price of WTI fell with 2% in Tuesday, but the situation there is far from over, so writing off some future rally due to new developments is out of the question. OPEC+ countries are expected to stick to their plan of gradually increasing oil production despite the high prices and will not give up to the pressure from Western countries to increase the supply. On the other hand, the lockdown in Shanghai and the new COVID measures in China might decrease its demands for oil. China currently ranks as the second largest consumer of oil in the world. On a technical note, a descending triangle pattern is formed by the price movement with support at 93 USD. If the price keeps falling, it will test that support level. If it continues to rise, it will test its previous high of 115 USD and after that its high of 126 USD. Risk Disclosure: Trading Foreign Exchange (Forex) and Contracts of Difference (CFD's) carry a high-risk level. By registering and signing up, any client affirms their understanding of their own personal accountability for all transactions performed within their account and recognizes the risks associated with trading on such markets and such sites. Furthermore, one understands that the company carries zero influence over transactions, needs, and trading signals. Therefore, it cannot be held liable nor guarantee any profits or losses.
BLACKBULL:WTI
by legacyFXofficial
$GBR Next Target PTs 40-230 and higherNew Concept Energy turned its focus to energy-resource development in 2003, and today it’s a fully integrated oil and gas producer. Geographically, the company concentrates on North American oil and gas drilling and exploration projects, and more specifically on properties in the Appalachian and Utica Basins. Even though the company is rather small, apparently New Concept Energy is on the lookout for new projects. In particular, company is seeking projects with low to minimum risk (which is understandable), in the range of $10 million to $30 million. These can be onshore and offshore projects “with current production or shut in wells.”
AMEX:GBRLong
by BADQOMOCAWGOWLD
CL1 CRUDE BRENT OIL- IS OIL STILL A GOOD TRADE ?Oil may be in a reversal now or going through corrections as the markets get use to the the Russian Invasion in Ukraine. I don't believe that US and NATO will be successful at imposing oil embargo sanctions on Russia. Therefore I am bearish and will be shorting oil etfs.. Give me a thumbs up if you enjoyed this TA, PS. Disclaimer I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this TA,(Technical Analysis) are for informational purposes only and do not constitute financial, investment, trading, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using or reading this technical analysis or site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this analysis, or post.
NYMEX:CL1!Short
by CryptoBuzzAnalyst
USOIL WTI Crude Oil TrendlineIf you haven`t bought the $94 pullback: Then you should know that USOIL in on a bullish trendline for this summer. UBS laid out three reasons for its $125 USOIL this summer: 1. Russian oil exports hurt by sanctions, which will further tighten global supplies. 2. Spare capacity brought in by OPEC is less than 2% of global demand. 3. Global oil demand still heading for record highs with Europeans and Americans returning to normal travel patterns once COVID-19 restrictions are lifted. Looking forward to read your opinion about it.
TVC:USOILLong
by TopgOptions
3
Front Curve Crude Light Volatility: Mar'22/Apr'22Upside vs Downside interchangeably for short or long risk exposure at current flat front CL1! price. The IV stands at 73%, which is more conservative than the highlighted risk profile. Not a tradable setup; just for reference timeframes when looking for a bias. The median line, from which the % change is measured, is derived by using the Inside Pitchfork tool; it is the least inclined from Pitchfork tools, provides a less aggressive slope for the long term outlook.
NYMEX:CLK2022
by Zoen_Trieste
BCO LONG OIL WTI LONGOil Price forecast for March 2022. In the beginning price at 107.02 Dollars. High price 139.13, low 90.50. The average for the month 107.13. The Oil Price forecast at the end of the month 91.88, change for March -14.1%. Brent oil price forecast for April 2022. In the beginning price at 91.88 Dollars. High price 91.88, low 84.91. The average for the month 88.72. The Oil Price forecast at the end of the month 86.20, change for April -6.2%. Oil Price forecast for May 2022. In the beginning price at 86.20 Dollars. High price 92.91, low 86.20. The average for the month 89.21. The Oil Price forecast at the end of the month 91.54, change for May 6.2%. Brent oil price forecast for June 2022. In the beginning price at 91.54 Dollars. High price 98.68, low 91.54. The average for the month 94.75. The Oil Price forecast at the end of the month 97.22, change for June 6.2%. Oil Price forecast for July 2022. In the beginning price at 97.22 Dollars. High price 104.80, low 97.22. The average for the month 100.62. The Oil Price forecast at the end of the month 103.25, change for July 6.2%. Why Oil Crashed Back Below $100 After a torrid three-week rally, energy markets have entered correction mode, with prices moving sharply lower. Over the past week, Brent has slipped 30% from the 7 March intra-day high while European gas prices have declined 65%. Brent for May delivery settled at USD 106.90 per barrel (bbl) on 14 March, a w/w fall of USD 16.31/bbl, and moved below USD 100/bbl in early trading on 15 March. WTI for April delivery fell USD 16.31/bbl w/w to USD 106.90/bbl at settlement on 14 March, while the value of the OPEC basket fell by USD 15.84/bbl to USD 110.67/bl and by EUR 15.40/bbl to EUR 101.16/bbl. You can blame speculative overshoot for the unfolding scenario though the overall outlook remains bullish. According to Standard Chartered commodity analysts, the correction tells us more about market positioning and the effect of extreme volatility than it does about changes in fundamentals over the past week. The increase in volatility across financial and commodity markets has led to a sharp rise in the level of risk held by traders, and an associated incentive to close out some positions to lower the risk. Oil traders have mostly been positioned with a highly bullish bias in terms of both outright positions and spreads in recent weeks, meaning optimization in a higher-risk environment has mostly involved closing out prompt longs. With speculative shorts being very thin on the ground currently, there have been few natural buyers, and the downside has quickly opened up. While the price ranges involved have been rather extreme, recent price dynamics bear all the hallmarks of a textbook speculative overshoot followed by the correction necessary to reset extreme positioning. The irony of the situation is that the dominance among oil traders of the belief that prices could only move higher has led to a position from which market dynamics dictated that in the short term, prices could only go lower. Replacing Russian Oil Despite the positioning-led price fall, StanChart says that the key fundamentals are largely unchanged and are also subject to an unusually high level of uncertainty. According to commodity analysts at Standard Chartered, Russian oil flows to Europe can be replaced in the short term, with the short-term price implications of that displacement potentially capable of being minimized by the extent to which OPEC members increase output beyond their current OPEC+ targets, and also by the possibility of a successful conclusion to talks in Vienna that results in higher volumes of Iranian exports. The analysts have projected that consumer reluctance to buy from Russia coupled with shortages of capital, equipment, and technology will continue to depress Russian output over at least the next three years. Russian output is expected to fall by 1.612 million barrels per day (mb/d) y/y in 2022, and by a further 0.217mb/d in 2023, with the y/y decline peaking at 2.306mb/d in Q2-2022. To avoid significant upside price pressure, StanChart reckons that the market would require around 2mb/d extra supply for the remainder of 2022, and an additional 2mb/d in Q2 to ease the dislocations caused by the displacement of Russian oil. The temporary 2mb/d Q2 boost could come from strategic reserves, but the 2mb/d additional flow for the remainder of 2022 would likely need to come from OPEC sources (including potentially Iran). Market tightness is, however, being helped by the fact that withdrawal from Russian markets has been less dramatic than anticipated. So far, there are indications that some of the larger EU countries are less keen than countries in the east of the EU to pursue the fastest possible reduction in Russian oil flows. Outside of the EU, the UK’s ban on the import of Russian oil has proved less dramatic than the headlines that accompanied the initial announcement, as it does not take effect until the end of 2022. In the private sector, while several companies have given assurances they will buy no more Russian oil on the spot market, there have been very few indications given about if, when, and how they will cut the volume of Russian oil purchased through their term contracts. Meanwhile, statements from some governments and some companies do appear to have become less hawkish over the past week, with an apparent lengthening of the timespan envisaged for the process of reducing dependence. StanChart says that Russian oil trade into Europe appears to be moving further into the shadows of term contracts and a greater reliance on third-party trading intermediaries. That does not make trading with Russia any less distasteful for European public opinion, but it does make the trade less visible and thus likely keeps oil flows from Russia higher than they would have been with more direct government targeting of those flows.
OANDA:BCOUSDLong
by DaveBrascoFX
>100 year oil priceThis is my first time to publish this idea. I have just discovered that if we use the log scale in prices and look back more than 100 years in the oil price, there are bull cycles. The first bull cycle took more than 100 years from 1863 to 1874. This cycle started with the industrial revolution followed by WW1 and WW2 where fossil fuels such as oil was the main source of energy. The second bull cycle was shortened to 25 years from 1874 to 1999. The third bull cycle was shortened again to 20 years from 2000 to 2020. We might have entered the fourth bull cycle and maybe the period will be 15-20 years (from 2022 to 2035-2040). If we superimposed the previous bull cycle and use fibonacci retracement for the fourth bull cycle, oil prcies could go as high as 500 USD/bbl. Inflation rates, production restrictions and sanctions to oil producers will be the trigger for these high oil prices. But I would assume that 2040 and beyond will be the period where renewables will be the main energy sources and nuclear fussion will be feasible for small and large scale. Oil will still exist as an industry but will no longer cater for majority of energy requirements, thus prices will go back to the third bull cycle. Disclaimer: This is not a financial advice. Charts, figures and discussion in in this idea does not warrant accuracy and completeness. Read at your own risk.
TVC:UKOIL
by wellbore
WTI: Fast and Furious 🏎🏎🏎After its racy rush upwards into the red zone between $111.46 and $131.21, WTI has slammed on the brakes at the resistance line at $130.50 and turned around with screeching tires to race down into the orange zone between $96.40 and $88.38. There, WTI should finish wave a in orange and then ride a short loop upwards to complete wave b in orange. After this daring feat, the drive should go on downwards below the support at $80.98 and into the green zone between $70.12 and $35.77.
NYMEX:CL1!Short
by MarketIntel
1
USOIL to $125 this summer, UBS saysOil hits two-week low but UBS is still bullish on Crude. UBS laid out three reasons for its $125 USOIL this summer: 1. Russian oil exports hurt by sanctions, which will further tighten global supplies. 2. Spare capacity brought in by OPEC is less than 2% of global demand. 3. Global oil demand still heading for record highs with Europeans and Americans returning to normal travel patterns once COVID-19 restrictions are lifted. Looking forward to read your opinion about it.
TVC:USOILLong
by TopgOptions