...in 2022, when Oil rallied to >$100 on the back of the Russian-Ukraine war that caused the supply chain shock, I indicated on this thread that above $100 oil won't last.
...now here we are on the BRINK.
...Demand Destruction is back! US which remained the last bastion to hold the global economy up is on the brink. China's reliance on oil is scaling back as EV penetration takes hold.
$WTI - As I've been saying all along, the repeat of the 2014-2015 crash is in progress. In JAN 2014 it made an IT low that low was undercut in SEP 2014. In DEC 2023 it made an IT low that low was undercut this week. If it continues, crude oil is headed lower into JAN/MAR 2025.
