The question, what does it look like for the price of oil?
Lets see, war with Iran, hurricane season on way, Refinery utilization down, global demand sky rocketing, cantrell oil field production down causing mexicos overall exports to drop 12.5% this month, I am bullish oil.
But I am bullish after we see a bit of a pull back. We didn't push through the 150 price by the fourth of July so it looks like we will see a bit of a pullback and then take off. World is still in consumer price shock to these surging prices and demand will fall off a bit as discretionary traveling will go down. Remember this is summer and the biggest time for families to take vacations. Give them a few weeks bottled up in their homes with the kids and the toys will be broken out and we will see families hitting the road for shorter trips in the RVs with boats and ATVs.
Lets see, war with Iran, hurricane season on way, Refinery utilization down, global demand sky rocketing, cantrell oil field production down causing mexicos overall exports to drop 12.5% this month, I am bullish oil.
But I am bullish after we see a bit of a pull back. We didn't push through the 150 price by the fourth of July so it looks like we will see a bit of a pullback and then take off. World is still in consumer price shock to these surging prices and demand will fall off a bit as discretionary traveling will go down. Remember this is summer and the biggest time for families to take vacations. Give them a few weeks bottled up in their homes with the kids and the toys will be broken out and we will see families hitting the road for shorter trips in the RVs with boats and ATVs.
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