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oil has likely peaked for this current economic cycle


               
2022 Jul 5, 3:07pm   560 views  6 comments

by AD   follow (0)  

For XLE to drop 25% from its recent 52 week high and for active rig count to continue to trend upward, I believe that we reached peak oil prices.

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2   1337irr   2022 Jul 5, 3:26pm  

You maybe be right, however, we are running a little light on rigs. I am curious about natural gas prices, I think they will probably jump up in October when Freeport LNG comes back on line. Any thoughts on that?
3   EBGuy   2022 Jul 5, 4:17pm  

I will set a trailing stop
I will set a trailing stop
I will set a trailing stop
Du-oh!
FENY crushed as well.

Stone Age did not end for lack of stones....
4   1337irr   2022 Jul 5, 4:22pm  

SmartEBGuy says

I will set a trailing stop
I will set a trailing stop
I will set a trailing stop
Du-oh!
FENY crushed as well.

Stone Age did not end for lack of stones....

Thanks for the smart advice. That's what I did...a generous stop.
5   clambo   2022 Jul 5, 5:11pm  

That’s good news.
6   Booger   2022 Jul 5, 5:43pm  

Oil is still going to be expensive for a while. Probably the whole time China Joe is in office. If we get a hurricane or refinery shutdown, new gasoline price records will be set.

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