The new norm Encouraging comments from the Energy Investing board this morning
Just returned from a 2 week Ozark vacation, no internet and no trading. Kudos to Arkansas state park cabins, spectacular settings, amenities, with low crowds late August. Interstate traffic still stuffed with trucks burning high priced diesel.
Some comment on the change in sentiment. Noticed a dow down 600 points day, and oil equities up big? Today WTI down big, equities up? Overall up 20% and wti is about the same from 2 weeks ago. It appears the gig is up. SPR releases, Iran deal to flood the market, and further subterfuge has worked well thus far. But the market has sussed the scam. Yes its all about the midterms, so gas down big from near $5 to today average of $3.82. Even bought 93 octane for 3.54, too low by half. Thanks Arkansas.
Low gas prices must hold for 2 more months. Then the new norm, with experiential returns likely. My last overall high was in June with WTI@120. Matched today with WTI printing 93. Something's changed. And after 7 years of beat down, it's possible, and indeed likely for much better times ahead.
Buckle up and Getty up!