Originally Posted by
vaksedtothemax
I’ve already said in the 61 day June/July timeframe. My prediction, oil will be in the $70’s sometime in June or July. Gas, which is always slower, who knows. In CA it will be slow as molasses to come down because, well, we all know why….. Oklahoma, it’ll be back to the low $2.00 much quicker.
answer this question… when does oil hit $150, furloughs occur and a/c deliveries get cancelled.. that was some of the narrative when this thread started.
Oil has been marching steadily higher since the war began. The world is only just now beginning to experience the consequences of shutting down the straight. It takes weeks for tankers to cross the ocean. The real question that needs to be answered is; when do prices reverse course? If the straight opens today, it’s months to get ships back into position & we don’t have a ton of information about how much infrastructure has been destroyed or damaged or how long repairs will take. Not sure on what planet oil prices will be $70 by July.