RE: Wonder what the SP will do22 May 2022 15:38
The comparison to 2017 is interesting… I’d say the world is a much more unstable place at the moment. Certainly for the next 6-8 months +… Putin has destabilised the entire world… The US is ramping up the rhetoric and China are itching for their own fight. They’ve been stockpiling grain and staple commodities for years…
What does this do? Well the US will absolutely look internally for a stable and safe forward strategy. Exxon et Al will have governor or even congress support. Very deep pockets…
Having looked at the oil price and potential forward ‘futures’ I’d say $165 by year end… I don’t see it going as far as $200 but who knows.
Right back to the lounger! Pink vino on ice… happy days folks