Get started
Mini Brent Crude Futures (100 BBL)Mini Brent Crude Futures (100 BBL)Mini Brent Crude Futures (100 BBL)

Mini Brent Crude Futures (100 BBL)

No trades
See on Supercharts
Overview News
Ideas
Discussions Technicals Forward curve Seasonals Contracts

BM1! trade ideas

Cheap Oil Isn't Green!Oil is going to boom like it never has before, we're going to see oil top $200+/barrel. This will be the result of several interacting factors. Many soon-to-be vaccinated Americans with government stimulus in their pockets will the hitting the road for epic vacations in the coming months. The entire population has cabin fever, thanks to year-long pandemic lockdowns followed by a harsh, bitter winter. The spring/summer/fall of 2021 will be the summers of the 1960's and Route 66 on steroids. Many folks think they're gonna hit the road and stretch that $1400 as far as it'll carry them, but oil prices are going to put a damper on the drive. The sheer pent up demand is going to push oil very quickly to $75 at a minimum. We'll likely see $100 by early summer. Biden hates oil, he killed the Keystone XL pipeline on day one in office and has been very clear about his negative sentiment toward pulling oil or gas out of federal land. This is only the tip of the iceberg. Americans love and drive the wheels off of their behemoth SUVs. These vehicles get atrocious fuel economy and are without doubt viewed as a serious threat to the climate by the green-minded political party now in power. Many investors seem to believe that a simple government decree-- "Only electric cars by 20XX"-- will the the lever that shifts the population away from fossil fuel. So everyone buys Tesla and goes back to sleep. This is incorrect. The true behavior changing lever will be the price at the pump. Gasoline prices will be pushed so high that the only logical response will be to get back into hybrid, electric, or ultra efficient gas-burning sedans. This wave is coming. Governmental policies, taxes, etc, will drive Brent up towards $200 + over the next few years.
ICEEUR:BRN1!Long
by scottybfx
2
Top for this great Oil bull market since those negaSimilar extreme price activity in Oil. One has to wonder if sometimes, the mood of one market has been transferred to others. It seems to have been a volatile emotional day all round. The difference in price behaviour on the day however, is that Oil has so far not seen any of the recovery equities achieved. While Goldman Sachs has just come out with a $90 forecast this year, the forecast here is in exactly the opposite direction at $65.00. With further potential stretch risk as low as $61.50. This forecast is based on both the price action behavior of the past week, what a reasonable correction to the huge trend from sub-zero would look like, and, the fundamental upheaval in OPEC perhaps freeing up production. While at the same time, demand could be foppish due to the extreme prices now being seen at the fuel pump. The overall medium term upside pressure of the US dollar continued, reasserting itself significantly in New York.
ICEEUR:BRN1!
by WilliamDing