Title : Will WTI Go Over $71 Today? -- May 9, 2018
link : Will WTI Go Over $71 Today? -- May 9, 2018
Will WTI Go Over $71 Today? -- May 9, 2018
Updates
Later, four minutes later after posting the original post: just after asking / suggesting whether WTI would hit $71 today, it did.
Original Post
Flirting with $71 shortly before the market opens:
Dow futures: up 124 points. I would assume higher oil prices could hurt the overall market for all kinds of reasons, but it's very possible, some of the oil-related Dow components will more than make up for that "risk." By the way, one would think a) the trade war -- Trump tariffs; b) the Iran deal -- Trump tantrum; c) and the Mueller investigation -- Trump follies -- would be pulling the market down, but apparently not. This is quite fascinating. Almost a once-in-a-lifetime gift.
John Kemp, Reuters London-based analyst, and regular contributor to Twitter, has noted that Trump is directly involved in no less than six (6) international "conflicts."
Market: it should be noted that CVX has been surging, and it will jump again today, and yet CVX is not even close to it's all-time high which was charted only a few weeks ago.
**************************************
Back to the Bakken
Where $71-Oil Is Like, "Oh, Yeah"
Active rigs:
| $71.02↑↑ | 5/9/2018 | 05/09/2017 | 05/09/2016 | 05/09/2015 | 05/09/2014 |
|---|---|---|---|---|---|
| Active Rigs | 61 | 49 | 28 | 84 | 192 |
RBN Energy: economic justification for new Permian crude pipelines, part 5.
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