Oil Bullish - Higher15 Nov 2021 07:53
With WTI trading at 80+ I see Brent still heading towards 92 $
Covid has no correlation to oil prices any more. The West will not go in to another lockdown . The EU, West, USA, UK all have big bills coming from covid an green energy transition. Printing money has been the answer till now and there we see the results with inflation. Commodities are a great hedge against inflation because they are consumed and then replaced.
Thing is, If the US releases SPR, the threat is over. Or if they ban oil exports then WTI prices will crash and Brent will rocket. Oil is not an OPEC problem, it's a Fed problem.
India an China are growing massively and they need cheap energy, but the oil prices are rising to save the planet. Seventy years ago it didn't matter. I think it is rather reasonable that they should not be bullied in to stopping coal an fossil fuels straight away.
When you say no more investment to an oil market, the price will be forced higher. And where does that leave Union Jack Oil ? Let the wellhead pressure go and open the choke at Wressle…I say 1100 BOPD with more horizons to flow. A multi year Bull market for oil puts us in a VERY prosperous situation indeed. Appeal Biscathorpe and await further updates on West Newton. A Royalty. Keddington, North Kelsey. Fossil fuels have a long way to run yet.
Good luck to all genuine investors and looking forward to this week's interview.