Oil

[Robertbarlage]

Sure is falling? What's up is the crash started?

[Austrian Economics]

Long term trend for commodity prices is down. This follows the 40 year long decline in interest rates.

It is possible that oil has peaked and will now follow the recent trend for lumber.

[shtferbrains]

Long term trend for commodity prices is down. This follows the 40 year long decline in interest rates.

It is possible that oil has peaked and will now follow the recent trend for lumber.

Isn't lumber price rocketing?

[Jordy2323]

Its all thanks to slow Joe

[jazz]

The oil supercycle is safely in only the 2nd inning. Best is yet to come.

[shtferbrains]

Anyone here trade Ninepoint energy fund?

[TOM4CWB]

The oil supercycle is safely in only the 2nd inning. Best is yet to come.

US President is threatening use of the Strategic Reserve… UAE has allowed the Chinese to set up a secret Military Base there… the Covid Lock downs in the EU…

Very interesting very volatile markets… Biden is refusing to enforce biofuel mandates… EPA is very politically motivated… not towards biofuels either…

Cheers

[jazz]

The SPRs and lockdowns are just another can kick down the road. Bullish for oil in 22.

Nothing can stop the fundamentals of trying to restrict the most critical resource in the world while pretending unicorns will power the world. That policy is going to create a superspike that will make bitcorn look like childs play.

[farming101]

WTI crude is in the 96th percentile as measured from the Nov18 contract close of 76.41 on Oct 3,2018.

Not really headed for oblivion yet
The news was running stories like this https://www.marketwatch.com/story/wh...ty-11634932692 saying Oct 15 stocks at Cushing were 31.2 million barrels. The Nov 12 level was 26.6 million. Down another 4.6 million or so.

Having said that there will be some looking to short this in the near term

[errolanderson]

Crude oil (king of commodities) is now in a bear market having lost 22 percent since October 26th.

Major support is now seen @ $60 per barrel (IMO). A break below $60 may trigger carnage to markets including stocks.

Natural gas also in a downtrend, but may swing on winter weather forecasts. Major support (IMO) is now $4/MMBTU. Suffield has been flat @ $4.35.

[Old Cowzilla]

Crude oil (king of commodities) is now in a bear market having lost 22 percent since October 26th.

Major support is now seen @ $60 per barrel (IMO). A break below $60 may trigger carnage to markets including stocks.

Natural gas also in a downtrend, but may swing on winter weather forecasts. Major support (IMO) is now $4/MMBTU. Suffield has been flat @ $4.35.

Don't see major cold snap in the works yet would Dec be normal seasonal high for natural gas ?

[errolanderson]

Don't see major cold snap in the works yet would Dec be normal seasonal high for natural gas ?

Cold snap primarily across the eastern seaboard would generate a bounce. But that is heating oil country. Europe is a watch also, but Russia appears opening the taps more. That’s pure politics.

Believe Dec to Feb will trigger bounces. Summer, it’s air conditioning demand.

[farming101]

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[Richard5]

Anyone here trade Ninepoint energy fund?

Why not buy the 5-7 company stocks directly in your own portfolio?

[AlbertaFarmer5]

[ATTACH]9297[/ATTACH].

That looks like a picture perfect textbook bounce off the uptrend line. Or was the line drawn after the fact?