RE:The glass is definitely half fullAbsolutely correct, well said!
topdown99 wrote: The recent "noise" in the oil market is just that , noise . This Iran paranoia amounts to possibly 1 million extra barrels (maybe) but keep in mind , Russia is unlikely to rubber stamp any US/Iran agreement . Russia and the Saudi's want higher prices , filling Irans pockets is in nobody's interest .
The US economy is finally reopening , restrictions are being relaxed and demand is in place . Each day brings us closer to herd immunity and soon the world will be looking for an additional 7 to 8 million barrels per day which cannot appear with the snap of your fingers . We are perched on the edge of driving season and travel demand is ready to explode , $70/bbl seems more likely than $60/bbl . Time is on my side and so are the supply/demand dynamics .