Chaotic movement in the price of WTI oil, though.
With USA production way up and the Iran sanctions being rolled back, it looked certain that we would break under $90 a barrel a few weeks ago.
Then, last week, it suddenly looked like we might break over $110 a barrel.
Goof.....
I meant $100.
Not $110.
demand and supply are pretty finely balanced world wide right now.
even though production in the USA Canada and Iraq is increasing—production in mexico venezuela libya and a half dozen other countries is flat to down. Even though demand for oil in the USA is flat to down—demand for oil in the rest of the world is rising pretty steadily. There’s no sign any of that will change any time soon.