Wednesday, August 29, 2018

Idle Rambling -- Looking At Price Of Oil -- August 29, 2018

Graph from this link:

If the graphic is hard to read:

From 2014 to 2016: "Saudi Surge: Saudi's Trillion-Dollar Mistake"

From 2016 to 2017: Saudis aggressive effort to re-set

From 2017 to present day: Trading range for WTI '' "Goldilocks"

Going forward:
  • current trading range: "Goldilocks"
  • trending toward $90: bullish for oil sector investors; little negative harm to overall economy
  • trending over $90 (in 2018 dollars): could negatively impact the economy 
  • below current trading range but above $50: oil companies will survive, perhaps thrive, but investors will be disappointed

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