Crude oil

[Hamloc]

I was a bit surprised to see WTI crude oil back over $80 a barrel. So the question is where from here, any thoughts?

[AlbertaFarmer5]

For the next 20 years it will go up. Probably never go below $50 again.
Somewhere along the way something better will finally become economic and from then on it will be for industrial uses only.
Does that help you with your spring fuel purhase decisions at all?

[farming101]

Low 90's.
I said that back in October and look what happened but game to try it again

[agstar77]

Calls for 100 dollar oil don't look as crazy as they did last year. Good excuse to raise price of all petroleum based products except grain .

[Sodbuster]

Hedge your diesel, buy some good quality oil companies, their still cheap. CNQ, SU, MEG, CVE, VET, WCP and many others.

[GDR]

Hedge your diesel, buy some good quality oil companies, their still cheap. CNQ, SU, MEG, CVE, VET, WCP and many others.

Have friends that work for CNRL at Ft Mac area Oil sands. They say they have virtually bought everyone out up there and have got their production costs down to $17. Evidently making money hand over fist. These guys say it's back to the good old ways of oil work, companies spending and wasting money around every corner.

[Hamloc]

Errol at one point I believe predicted $60 a barrel oil much more likely than $100 oil, what do you think today? As I said before government policies around the world will continue to lead to energy price inflation.

[shtferbrains]

2021 Returns
Coal 160.61%
Crude Oil 55.01%
Gas 46.91%
Aluminum 42.18%
Zinc 31.53%
Nickel 26.14%
Copper 25.70%
Corn 22.57%
Wheat 20.34%
Lead 18.32%
Gold -3.64%
Platinum -9.64%
Silver -11.72%

I think this chart reflects returns from commodity index funds.
Interesting grains are less than expected but maybe most of the gains were in late 2020?

https://www.visualcapitalist.com/the-periodic-table-of-commodity-returns-2012-2021/

[jazz]

.

[farming101]

Diesel at 7+ year highs.
Very stout resistance at 2.7383 in the continuous. If that doesn't hold it could be good for another 10% or more

[BTO780]

Wait until we hit the field .... fuel prices will be through the roof. They are high now, and it’s only mid Jan.

[errolanderson]

Errol at one point I believe predicted $60 a barrel oil much more likely than $100 oil, what do you think today? As I said before government policies around the world will continue to lead to energy price inflation.

Well, WTI came damn close to $60 bucks in early December. WTI above $85 is very overbought. Any relaxation in geo-political and global oil prices will tube like the NASDAQ.

There is no shortage of oil, just an abundance of politics.

$60 oil before $100 oil all day long (IMO) . . . .

[Taiga]

Well, WTI came damn close to $60 bucks in early December. WTI above $85 is very overbought. Any relaxation in geo-political and global oil prices will tube like the NASDAQ.

There is no shortage of oil, just an abundance of politics.

$60 oil before $100 oil all day long (IMO) . . . .

I hope you are right, will wait longer to buy diesel.

[errolanderson]

I hope you are right, will wait longer to buy diesel.

TAIGA, there’s hope . . . the NASDAQ just broke its 200-day moving average.

[mcfarms]

Well, WTI came damn close to $60 bucks in early December. WTI above $85 is very overbought. Any relaxation in geo-political and global oil prices will tube like the NASDAQ.

There is no shortage of oil, just an abundance of politics.

$60 oil before $100 oil all day long (IMO) . . . .

And an abundance of stock gains for those that ignored the doom and gloom of 2021 and bought oil and gas companys in the first qtr of last year.