RE:Looks like drop in Energy marketsAnd I dont like buying into a market when analysts and financial media are so angled to form this bullish tone on oil. When I see analsyts talk about 180 or 380 oil prices and from experience that is usally a sign at the peak of oil prices and they will go down soon. THese analysts have such poor track records, rarely right.
And so many analysts leave out key data in their articles. For example lots of the gasoline analysts in the USA will talk about 2 % grw in gasoline consumption over last week in 2022.
But they dont compare current USA gasoline demand compared to 2019 for early July......really bearish the economies of USA and Europe on future oil demand.
kavern23 wrote: Looks like a drop is forming and I may be able to do some investing in market again soon.
Big difference taking an intial position right now and to people that own existing and average down.
Not shocked the oil drop timing is going to be at same time as Q2 earnings season. This drop in oil prices (more to go in July) will help temper companies from increasing their Q2 second half capital budgets. USA production growth is slowly becoming a headwind and traders will want to zap some of the extra capex that was going to come to Permain Basin. Permain is just too profitable at 100 plus oil for companies to not want too expand. Espcially privates.