Squeeze Watch 101 - What is a Purloiner to Do? Lurk & Learns + New Posters:
While Touchstone is waiting for Coho & Cascaduras connections to the (gas) NGC grid, the "oil" component is becoming (if not already) the more important commodity.
So for the patient with a (say) June 2022 timeline/horizon, we can add today's Oil Price prediction to the SQUEEEEEEEEZE list :
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Energy Summary for Nov. 9, 2021
2021-11-09 21:58 ET - Market Summary
by Stockwatch Business Reporter
West Texas Intermediate crude for December delivery added $2.22 to $84.15 on the New York Merc, while Brent for January added $1.35 to $84.78 (all figures in this para U.S.). Western Canadian Select traded at a discount of $19.04 to WTI, down from a discount of $18.79. Natural gas for December lost 45 cents to $4.98. The TSX energy index lost a fraction to close at 168.78.
Oil prices had another good day, buoyed by rising enthusiasm about recovering demand. One prominent oil bull is doubling down on a prediction that prices could hit $120 (U.S.) in 2022 for the first time since 2012. Francisco Blatch, global head of commodities research at Bank of America, made this prediction a week ago and repeated it to Bloomberg today. "[We will see a] booming air travel window for the next six months," he predicted, noting the recent reopening of U.S. borders to vaccinated travellers. He added that the European gas crisis is boosting demand for oil as an alternative, while Asian demand should come roaring back as governments roll out vaccines. All of these factors on the demand side, combined with "rigidities" on the supply side, mean only one thing to Mr. Blatch. He sees prices hitting their highest levels in a decade within the first half of 2022.
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