I'm more concerned about our Commander-in-Chief

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Joined: Fri Apr 23, 2010 8:22 am

I'm more concerned about our Commander-in-Chief

Post by dan_s »

Trading Economics:
"WTI crude futures plunged over 6% to around $78 per barrel, a level not seen since January, pressured by a worsening global economic outlook and a stronger dollar. Fears mount that an aggressive tightening from major central banks worldwide, with the Federal Reserve leading the charge with a third straight 75 basis point rate hike earlier this week, would derail global growth and dampen energy demand. Putting a floor under prices were concerns of further supply disruptions after President Vladimir Putin announced a partial military mobilization in Russia. Also, recovery in oil demand from top importer China and possibly more output cuts from OPEC limited further losses. The US benchmark tumbled over 7% this week, putting it on track for a fourth consecutive weekly loss."

We live in a world where the leaders of the U.S. and Russia are "mentally impaired" and both countries have a lot of nukes. So, the situation in Ukraine concerns me more than a dip in the price of oil that is being pressured lower by the US Dollar: https://www.marketwatch.com/investing/index/dxy

Q3 results are going to be very good for all of our model portfolio companies. We are in the "Shoulder Season" where supply of oil, gas and NGLs always exceeds demand, but not enough to rebuild space heating fuel inventories to safe levels before winter arrives.
Dan Steffens
Energy Prospectus Group
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