RE: If only ! W. Buffett, More Experience than us.24 Jun 2022 13:55
HerbertDTurbot :
'I'd love it to hit the £1 by year end but cant see it "Heid" as there's always going to be too many unknowns i.e. Recession, America panicking, Russia Fighting and turning fuel on/off etc plus next covid warning etc etc.'
All we see are headlines of concerns but we haven't seen any data except some very strong numbers for demand for diesel an gasoline. Strikes for holidays in UK are deterring demand rather than people not affording flights, they will all want to fly fuelling more demand.
There is a fear for a recession with the Fed putting up interest rates to control inflation. Next year we will see a mild recession but we have to think about China who are causing supply chain issues at the moment. When Chinese factories get back to work, which they are beginning to. you will see inflation pressures ease despite the high energy an food prices.
Therefore I remain very bullish on the oil price.
I hope that helped Herbert.