bfw posted:g-man posted:
It's a good time to reassess the price of oil after the drop. As noted 3 months ago wti 75 was a possibility but market seems capped at wti 73 for the technical resistance.
Be interesting to see how consumer demand is during this memorial day weekend with high gas prices at the pumps.
I’m chuckling here. You were quite bearish oil and Brent hit over $80 with WTI just under $73....in May!
Then, OPEC will at worst just decide to replace some lost Venezuelan production and the oil market will move to bull mode until the Fall. I expect $85 for Brent and up $78-80 for WTI in July.
Nope, still stuck to my original assessment, no way WTI is hitting 80$. And I certainly wasn't bearish, I said 75$ was certainly possible and went in on BP. I was just no where near as bullish as you and still ain't! =)