AuthorTopic: WTI rises to $71.71 /b  (Read 305 times)

Offline Palloy2

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WTI rises to $71.71 /b
« on: May 11, 2018, 07:03:13 PM »


The 1-year chart shows that WTI can gone from about $46 /b in August  2017 to $71.71 /b today, a rise of 59% in 10 months. The OPEC-Russia group has reduced production, and in combination with war premiums, has finally got prices to rise to levels where most producers can make a profit (except the frackers).  Unfortunately that also means that airlines and trucking companies cannot operate with their current prices.

With war everywhere on the horizon, the oil price is likely to escalate quickly.
"The State is a body of armed men."

 

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