Reality?29 May 2026 09:59
Hate to be too pessimistic but I'm British after all!
Are the days of cheap oil over? Oil market analysts think so:
“Oil getting back to the $60 level is effectively off the table even if this latest peace deal somehow gets resolved,” said Ben McMillan, chief investment officer at IDX Advisors. “There’s a recovery period for oil supply of at least three months in the best case, probably six months before we get everything back online, and then there’s going to be this baked-in geopolitical risk premium for oil that is going to endure for years.”
I jumped in after the Covid lows but have been extremely frustrated since - too sensitive to Geo- politics and it may get worse.
I'm out at 410-420 as I think this will range trade between that and 350 for the next 8-12 months - will be monitoring any signs of real change in fortune.
The real impact of all this is yet to hit the share price - the economy is faltering once again.