Cara. I love your optimism. But $140 would be in GFC territory. Especially if you check the DXY. Which shows the USD climbing against all other currencies to 108, up from 94 at the beginning of the year. Oil is down again below the $100 barrier and the LL futures $100 horizon is now only 3 months away. instead of the 12 it was before.
(source oilprice.com)
But I don't expect this to last. Because of this graph
(source https://oilprice.com/Energy/Crude-Oil/Why-Is-The-US-Sending-Its-Emergency-Oil-Reserves-To-China.html)
That "down line" is going to keep going till October. Perhaps, since we are all going green, the US does not need a reserve? But if it does then they will have to start taking fuel off the market.
But at what price? They don't care. They can just print the USD. Strategic trumps Economic.
All disclaimers. Badger does, what a badger does.
Cara. I love your optimism. But $140 would be in GFC territory....
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