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Crude Oil Cracks

Published 11/21/2022, 11:45 AM
Updated 07/09/2023, 06:31 AM

Well, I guess Zerohedge’s prediction of $300/bbl oil isn’t panning out. My own speculation, however, has done so. As earth’s only energy bear, I have stood alone in ignoring all the sensible reasons that oil is going to surge higher for years to come, and instead relied on my simple-minded charts. I like how this is going.Crude Oil 1-Minute Chart

You see, 100% of the Ukraine War 'excitement' is gone; indeed, we are well below prices than before the war even started.Crude Oil Daily Chart

The slow collapse of earth’s economy will just send this thing into a tailspin. You think energy has a great future? Maybe there are some FTX tokens you’d like to buy too, like as a 60/40 kind of portfolio.

Latest comments

WSJ came out today an annouced opec would increase production by 1/2 million barrels. Oil dropped over $4.00 a barrel. Saudi arabia came out at 12 eastern and said it was a lie and oil bounced back. We cant even trust financial publications anymore.
wait for price tag dont sing victory yet. Remember diesel reserves are so low
Well if you kept shortingb since Jan not sure you can wait until now
This…did not age well.
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