Crude Oil 2021-Q4

[RedSun]

There will be all out war again in the Middle East, it has been way too quiet. They are preparing to light up wells producing oil since they are no longer stupid. They know how to hurt the ruling elite. This will help drive oil above $ 100. Watch and see. However, this is not tradable. Neither of us trades in the long term.

If Trump wins again, expect oil prices to fall down hard as it goes back to drill baby drill and the oil pipeline gets built.

Well, both scenarios seem unlikely at this moment. We traders do not even care what happens in two years. We care about next two days, or at most next two weeks.

Even without Trump winning, US oil production is coming up nicely. We'll turn to balanced market this winter since all Hurricane Ida damages are repaired. We'll probably turn to supply/demand surplus next summer.

For the traders who missed $6 nat gas price, just do not let $80 CL price get away....

 

[RedSun]

It was interesting to see CL up about a dollar overnight with abundance of bearish news. Now it gave back all of that.

Expect more choppy market. Expiration is up.

 

[easymon1]

CL 1m 2021 11/28 sunday 6PM

 

[maxinger]

Down it goes.

how low will it go?
will it go below 67.5?

 

[maxinger]

down it goes again.

will it go below 62?

 

[easymon1]

down it goes again.
will it go below 62?

nice forecast on that 62. +1
More to come?

 

[easymon1]

CL 30m - https://www.elitetrader.com/et/thre...t-right-here-baby.343012/page-15#post-5499451

 

[treeman]

Until CL gets above 76, I only see supply and would expect to get whipped around. Not fun.

 

[easymon1]

CL 60m

down it goes again.
will it go below 62?

 

[Nine_Ender]

down it goes again.

will it go below 62?

Up it goes again. Will it go above 72 ? 80 ?