Diesel Prices

[errolanderson]

Energy prices continue to perform poorly. Huge fallout in natural gas prices over past month. Futures have plunged about 25% from $4 to $3/MMBTU recently. Suffield spot sliding.

Diesel futures remain in-a-downtrend sliding from $3.20 to $2.75 per gallon. Major support as low as $2.20 per gal. Depends on oil weakness.

Crude oil sliding despite more OPEC production cut extension threats. OPEC in losing battle with weakening demand. $70 WTI oil may be tested soon. Alberta oil recently cut below $50 per barrel.

Heavy WTI resistance now seen at $80 per barrel. Major WTI support seen approaching $63.50 per barrel. Major support will touch eventually (IMO), but when? Errol’s Commodity Wire

[biglentil]

Its either sacrifice the system or sacrifice the currency. Austerity is political suicide and therefore mouse click money printing is coming. There are no other options left but to artificially add liquidity.

[errolanderson]

Its either sacrifice the system or sacrifice the currency. Austerity is political suicide and therefore mouse click money printing is coming. There are no other options left but to artificially add liquidity.

There is another option . . . ‘The changing of the guard’ Pennies on the dollar to remove debt loads and restart the economy. Money printing is no solution . . . .

[biglentil]

That may of been an option in 2008, instead they chose bailouts and policy that reinflated a much larger bubble built on QE and artificially low rates. That bubble is popping and the extreme debt load must be serviced. They can raise taxes? Nope the populace is at a breaking point and overloaded by tax. Cut spending? Not going to happen. Improve the GDP organically? Nope not while the everything bubble implodes. They will turn to mouse click money or they will be ousted.

Watch this short clip: Matt Piepenburg is one sharp cookie manages over $8b.

https://vm.tiktok.com/ZMjEqcMVF/

[errolanderson]

OPEC cancels Sunday get-together. Oh, to be a fly-on-the-wall . . . .