Greed and FearFrom a low of $1.50 on March 30 2020, to $9.92 today. We all know the results of Fear now. But do we know the results of Greed yet. Personally , I think not . Crude prices are very elevated and trading on the backdrop of the Ukraine drama. Waterborne crude storage inventories for now however remain even on the high side and it will take months for those barrels to diminish.
I am amazed that Biden et alia, have not seen fit to free up Venezuelan barrels.
All in all, there remains a tightness in global supply and demand may be hurt by high prices but will be supported by the phenomena of catch up demand as the world makes up for lost time.
Lastly, IPCO remains very undervalued and has great prospects for future developments
They say that great investors are greedy when others are fearful and fearful when others are greedy.
But for now, I will wait for my stab at greatness. Hopefully you will too !!