You are asking why did I think Energy would go back up weeks ago Here’s why 1) Production is way down—it has been and is likely to stay that way; 2) US government is likely to restore supplies of the Strategic Petroleum Reserve at these prices; 3) China rebounding will likely put big demands on oil supplies; 4) The demand curve suggests that supplies are way too low to satisfy it. This had led some executives of major US oils to predict that prices are headed back to $100/bbl over the next few quarters.

Posted by Suze at 2023-04-10 23:33:55 UTC