Crude Oil WTI Futures - Jul 22 (CLN2)

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  • Bid/Ask:
  • Day's Range:
    109.17 - 111.89
  • Type:Commodity
  • Group:Energy
  • Unit:1 Barrel

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  • We are in a DEEP Recession people..12% unemployment is misery index. GDP  est. YoY Q2 -35.2%..Baseline in any metric going up is from disaster. Anyone here understand this?
    •  ..My fear is overhang + production and then consumption not enough to cure soon.
    • Good conversation thread here Milty. I agree with your statement, will take 1-2 years for that to normalize. Meanwhile, some more oil companies will go broke. I think this year, oil wont go above low 50s. I took a big gamble on Occidental, risky but hoping oil mid 40s - 50 sustained, in combo with their hedges and
    •  I see it like this: USA is the termometer for the virus as it is the epicenter atm. Fauci said the daily infection rate can reach 100k, what means they are accepting this daily rate without taking extreme measures. Once the infection rate in US start to give clear signs of decline then prices will spike to at least 54 and I think it is gonna happen till end of the year.