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Oil Is Soaring Amid “Supercycle” Chatter

Oil Is Soaring Amid "Supercycle" Chatter
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Just days after one of our favorite macro strategists, Dylan Grice, predicted that the stage is set for “a bull market in oil“, and JPM quant Marko Kolanovic said a new oil and commodity supercycle has begun, oil is starting to get the message, and has jumped more than 2% on Friday…

… rising to the highest intraday level in more than a year as output curbs from top producers whittle down global inventories, while JPM predicts that an epic systematic short squeeze is about to be unleashed next month in oil (we discussed this earlier this week, and will touch on this shortly again).

Oil was set for a second straight weekly gain, as OPEC+ continued to slash output and the group expects a stronger second half of the year, which to Bloomberg indicates “that global inventories will face sharp declines unless the cartel boosts supply.” Indeed, Iraq said OPEC+ is unlikely to change its output policy at a March meeting. Meanwhile, in the U.S., crude stockpiles are at the lowest in nearly a year…

To read more visit Zero Hedge.

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6 comments

Terry February 12, 2021 at 2:22 pm

Demand for oil is still very low, thanks to all the lock downs. This is just more corrupt manipulation.

Reply
Mensa Graham February 12, 2021 at 3:28 pm

Hopefully all the ‘little people’ that voted the big D realize what they did to all of us when their gas goes to $4 or $5 a gallon.

Reply
RandyHilburn February 12, 2021 at 6:28 pm

They will be thrilled, when gasoline goes to $4 or $5/gallon because saving the planet gives their lives meaning that racist homophobes like you don’t have 🙂

Reply
Hugh February 13, 2021 at 2:46 am

If U.S. gas rises to >$4/gal, then, coupled with imposed WuFlu destruction., tax revenues will drop, retail prices – especially food – will rise dramatically, govt. handouts will skyrocket with millions of illegals added to the existing entitled base, inflation will easily surpass the Carter levels and possibly exceed 2015 Venezuela’s 160%.

National security will be turned inward in order to silence, BAMN, 75,000,000 “terrorists” who were/are being disarmed by the New Woke Antifa Military fanning across the plains, as the State Media agitates their base to violence while narrating that it’s the dying and dead’s own fault.
Global predators will buy for pennies the U.S.’s technology, assets, land, and people.

This is not a pessimistic assessment, it is the best possible outcome. It is unavoidable that Bill Gates’ Malthusian dreams will be realized.

Reply
markit8dude February 15, 2021 at 2:59 am

Fuel’s increased nearly .40 cents since the phony ‘2020 election’ results 3+ months ago in my area.

This is by design on the Dem/ RINO establishment’s part.

Reply
markit8dude February 15, 2021 at 3:03 am

Can’t disagree too much with commenter Hugh’s take.

Combine this administration ignoring our southern border, providing de facto amnesty to the ~ 30+ million illegals, reinterpreted 14th Amendment anchor babies, chain migrants, releasing all criminal aliens in ICE custody & the 25k recent invaders welcomed in to our nation of 9+ million people STILL unemployed. Sadly who are disgustingly deemed ‘non essential’ –

An attack of some kind is all but inevitable.

Sickening stuff..

Reply

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