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Oil In Focus As ‘Dry’ Cushing Prompts Hand-Wringing
There was talk of a "toxic cocktail" on Thursday amid elevated bond yields and a bubblin' crude.
It's occurred to me recently that very few readers appreciate the Jed Clampett references, but with Cushing tanks at 25%, the SPR diminished, the supermajors jaded by the green transition and a petulant prince curbing supplies to prove a point, the US may need to start firing rifles into the mountain underbrush on the off chance something froths up.
WTI hit $95 for the first time in more than a yea
It’ll get blamed on Biden but anyone who understands OPEC knows Trump’s favored asset buyers control this price game. RTO is just making all of this worse by forcing people to expend fuel unnecessarily to keep corporate real estate prices elevated.
FWIW, I absolutely love the pop culture references. I think I’ve said this before, but you’re to the finance world what Bill Simmons was to the sports world in his prime. Mixing world-class insight with sometimes esoteric cultural references. It’s a real skill, please keep it up.
You missed an incredible opportunity here. The collage definitely should have been an otter on a snowboard.
needless to say but John Banjo, along with cousins Lester and Earl love the BH references…last overheard on the Clampett manor was Jethro telling Uncle Jed…”I know what I want to be now, Uncle Jed…I’m gonna be Chairman of the FOMC…”
I don’t understand why the SPR wasn’t refilled why oil was $60 ish. Or why a whole lot of Treasury duration wasn’t sold when the 10 year was yielding 1%.
Maybe jumping into the cement pond will help
There is a maximum price that Saudi want – too high and they risk demand destruction and pulling in more supply. $100 might be around there.