Oil Price Forecast - Nov 5

[dan_s]

"The yen's recent drubbing vs. the dollar -- sparked by their relative yield differential -- could turn up the pressure on other Asian currencies, aggravating investors' inflation woes and giving commodities added glow. Our analysis suggests WTI could jump to $122 if dollar-yen tests 160." - Bloomberg 11-4-2022

My "SWAG" is that WTI goes over $100 soon after the SPR draws end, which should be soon after the midterms.

[Fraser921]

I positioned myself for that very thing. Buying 2 covered call WTI crude contracts, dec 90/93 and dec 90/94. Also a futures contract for Dec 2023 at 80. I don't see crude falling until things change

[dan_s]

Owning Hemisphere Energy (HMENF) is like owning a call on crude oil prices that never expires and pays a nice dividend. It is a pure play on oil.

If WTI does go to $120, HMENF should be a triple for us from where it is trading today.