and
West Texas intermediate crude is up significantly relative to the news of gasoline demand is back up (see previous posts): http://stockcharts.com/freecharts/gallery.html?s=%24wtic
in conclusion we may be breaking a new trend where the us dollar index and oil are now negative for covariance again in a significant value and trend. due to the acceleration of investment and demand for summer and how the refineries use up seasonal demand for oil, I foresee a higher oil price and lower USD index with some higher fuel based inflation, might cause a recession and pull back due to the added taxing cost of production; especially if you use a gasoline car where pump price goes back towards 2.50-3.00 dollars per gallon. On the contrary, as by labor day or September-October time frame, we should see oil prices and gasoline prices plummet because of overstock if of only gasoline or of oil stocks.
The largest factor is if oil stocks continue to rise over the summer then we might have a glut or a delay of shipment when the dollar is cheap, so is the buying for oil from foreign countries.
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