Oil has been red hot since the pandemic - many ask if they are late, and I do not think so.
Reasons why I am bullish oil -
Ecomm - shipping and freight are going to have to adapt to keep up w pace of adoption and need for quick deliveries. Primary source of transport across the oceans is still tankers.
Underinvestment in hydrocarbons - we are not ready for this new world that politicians love - unfortunately for mother earth we are still very much dependent on fossil fuels
Russia & China on offense, tensions around globe.
I think we see the trend on the left hand side test the high of 133 before YE and I expect we blow through the 103.19 a barrel by June - if we dont have a long winter... 84.71 shuold hold as resistance
Reasons why I am bullish oil -
Ecomm - shipping and freight are going to have to adapt to keep up w pace of adoption and need for quick deliveries. Primary source of transport across the oceans is still tankers.
Underinvestment in hydrocarbons - we are not ready for this new world that politicians love - unfortunately for mother earth we are still very much dependent on fossil fuels
Russia & China on offense, tensions around globe.
I think we see the trend on the left hand side test the high of 133 before YE and I expect we blow through the 103.19 a barrel by June - if we dont have a long winter... 84.71 shuold hold as resistance
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.