Aug 9th, WTI @ 66.75, headed to 65.xx then to $80

Even though it looks like it the end for oil prices. Chart tells a different story. I think I made a mistake predicting the date for the prices, I think that is a little bit.

But based on how I calculate things, I still see Oil going to 80, for sure in 2018, maybe in August or close to it. And not going lower than 65. All oil rigs please stand by.

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The October contract already has gone down to 65.xx

What do you think about the December 2020 futures contract and holding on to it long term? To me it seems like a good deal at under $60.00, especially with the maritime fuel requirements that kick in around that time.

 

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JJ - Last month you had much lower targets for WTI, what would get you in the lower came again?

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