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Monday, February 21, 2022

No Daily Activity Report Today; WTI Up Over 2% Today; Closed Above $92 -- February 21, 2022

Ted Turner: biographer speaks for Ted Turner

The meme is unchanging: supply won't meet demand this summer. "Everyone" is repeating that data, and the consensus is that oil will reach $100 this summer. Since we're already at $94 getting to $100 is not all that unlikely. Now, this today: Middle Eastern oil nations hike prices as production falters. Link to Gerald Jansen

Glad it's over: the Olympics. It sounds like "everyone" agrees.

WTI: gained 2.44% today; up $2.22; closed at $93.29.

Active rigs:

$93.29
2/21/202202/21/202102/21/202002/21/201902/21/2018
Active Rigs3315546655

No daily activity report; Presidents' Day.

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