Crude Nowhere to Go but Down

Doom and gloom story on CNBC: 

https://www.cnbc.com/2018/02/02/crude-oil-has-nowhere-to-go-from-here-but-down-says-market-watcher.html

Production up to highest level since 1970, and Trading Nation's Phil Streible is opining: "You've got the net speculative long positions at its highest level since 2006; I think it's got nowhere to go from here but down."
 

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Mebby. Sachs and JPMorgan disagree.

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doom and gloom headlines are always good for viewership. 

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All the big banks now disagree. For now. The hype about demand will subside once demand subsides thanks to, erm, higher prices.

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