Let's Go Brandon! October 17, 2021

 

So, "Batman, riddle me this. If there's a five-million-bopd overhang" (Harold Hamm) and we now have fifteen to twenty more unit trains each month carrying oil from western Canada to Texas starting by the end of the year (see this note), why is crude oil continuing to increase in price? -- The Riddler.

October 17, 2021, 8:23 p.m. CT: WTI trading at $83.41. Remember: Jim Cramer called the top at $81 - $82 about a week ago. Later, $83.57 at 10:00 p.m. CT.

So, far Jim Cramer is wrong on the trend -- WTI is going the wrong way. However, one can argue $83 is is same trading "range" as $81 - $82. So, we'll see.