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What’s Up? Not Oil

Published 08/02/2021, 12:09 AM
Updated 07/09/2023, 06:31 AM

The entire weekend, all the headlines were lockdown-this, delta-that, and yet, as required by federal statute, all the equity futures shot higher and are bright green. It’s encouraging to at least see some sanity in the world of crude oil, which seems a more honest reflection of the world’s economic prospects.

Crude Oil Chart

As a reminder, I am an energy bear, and my largest position is a ton of October 15 2021 put options on the Energy Select Sector SPDR® Fund (NYSE:XLE):

XLE Chart

Latest comments

Actually his trade makes sense..the summer travels are over and it's too soon to predict the need for heating oil. There should be a glut of oil, if the Middle East doesn't heat up.
How’s you ton doing lol
You have to look at the Supply side as well; supply is constrained and not keeping up with the demand. The author is stuck in a confirmation bias loop.
I can't believe this got published on the website.
Without politics & military industrial complex at play, Oil will long become a worthless commodity.
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