Been a while since I last posted an oil chart so here we go:
79-80$ could be destination next for WTI Crude. Hope you like the chart.
I had posted this the last time:explaining how Oil prices affect Inflation:
Ever since Prices have eased and so has inflation.. superb!
Let's go with the basics again.
How does crude oil affect inflation? Crude oil is a major economic input, so a rise in oil prices contributes to inflation, which measures the overall rate of price increases across the economy. Inflation as measured by the annual gain in the U.S. Consumer Price Index (CPI) set a 40-year high in March 2022 amid COVID-19 supply disruptions.
This oil bullish squeeze on traditional markets is happening, and shorting oil will bring down inflation. Not sure if all current effort will bring oil prices down, but if OPEC cooperates and Big oil take a hair cut on profits, current downtrend on oil will continue.
Now liking all traditional indexes to controlled and cooling inflation is the current world stage paradigm. The Crypto market is still correlated to Nasdaq... until it decouples for good as the old world economies grumble. Melting permafrost and massive losses for Re of Re will be the game changer. Less than 7 years and counting... as the global worming effect pace is acceleration. Hyperinflation is here to stay and ultimately the price of oil will not even be a factor any longer... we will have much more problems on our hands.
The clock is ticking. FOMC is behind the curve and so are the old mind sets!
Open source governance, BTC as a value reference (BTC/DXY/Fiats) and top quality useful Crypto protocols to save our planet. OMS
FX_Professor
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@Operation_Morning_Star, not so sure that crypto can save the planet but... i agree with you
Xspot
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Odd everyone shorts 🤔
JoeChampion
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Good one, commodities well drop!
Babenski
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Nice chart
DeGRAM
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Thank you for sharing
DHD269
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OPEC+ hates Biden and the EU thus will never meet any production increases. The new President of Columbia has all but killed off the oil industry there with a tax on oil producers. Every Oil company interviewed in the US and Canada has said they cannot keep up with demand. Oil may take a dip but it will be roaring back up in the fall.
Not sure if all current effort will bring oil prices down, but if OPEC cooperates and Big oil take a hair cut on profits, current downtrend on oil will continue.
Now liking all traditional indexes to controlled and cooling inflation is the current world stage paradigm.
The Crypto market is still correlated to Nasdaq... until it decouples for good as the old world economies grumble.
Melting permafrost and massive losses for Re of Re will be the game changer.
Less than 7 years and counting... as the global worming effect pace is acceleration.
Hyperinflation is here to stay and ultimately the price of oil will not even be a factor any longer... we will have much more problems on our hands.
The clock is ticking.
FOMC is behind the curve and so are the old mind sets!
Open source governance, BTC as a value reference (BTC/DXY/Fiats) and top quality useful Crypto protocols to save our planet.
OMS