Why the oil markets will balance this summer

[dan_s]

You all need to listen to the short video at the link below (just 7 minutes). It will help you understand why Raymond James is expecting $70/bbl WTI by the end of this year. While listening keep in mind that today, at the lowest point in seasonal demand, demand for liquid fuels is approximately 94.5 million barrels per day.

Mike Smolinski is an expert on the global energy markets.

http://www.oilandgas360.com/oil-supply- ... ell+Report

At the beginning of 2010, the last year of the previous oil price cycle, IEA forecast that demand for fuels would increase by 1.0 million barrels per day year-over-year. That summer, demand spike and when the year was over demand had gone up 3.3 million barrels per day. Lower fuel prices do have a big impact on demand.

[Brian44]

The Euro is a doomed currency. Good luck with that. JMHO. Look what it took with all the battling to centralize power in this country and all the shenanigans with fed just to pump up our monopoly currency. Dumb move by Iran, but, hey, we gave them the part of Iraq they lost 1/2 mil fighting for in the '80's and with Bushies' dumbass war and Obama selling them the farm for cheap, so who can blame them. I'm down to stems and seeds on my oil trades. Just a beating this year. Goodbye retirement. Went long too early even after being a hero on the puts in late 2014. Oh well. Just waiting on Israel to shove a missile up somebody's butt to keep the dream alive. BTW, is anyone a bigger enemy to the U.S. than Saudi Arabia?

Threw a hard 8 out on HK as a last ditch move on the craps table. Any thoughts on that one?

[mkarpoff]

I look forward to part 2 of the interview. Prices may be higher by the end of the year, but it sure doesn't feel good now. Oh well, pitchers and catchers in one week.