Optimism, Pessimism and Realism Drives OilFED is upfront and centered on dealing with casualties of higher Intrest Rates a path that the FED must continue at risk of Inflation remaining higher unless tomorrow's Inflation Rate drops significantly could have the FED relaxing. The one good thing about SVB collapse is it'll save the FED from having to do another Bank Stress-Test the question will remain if other countries see this latest crack in the US as a serious hinder also believe that this won't be the last of it which could keep pressure on Oil prices. What's amazing is that Oil closed down only $2 rebounding from the initial $4 drop which isn't bad when you consider that before SVB hit the fan today Oil was already weak from China's lower GDP while the assumption that Europe and the US are heading into a recession we just don't know how deep but these 3 ailing countries fail to support earlier projection for Oil demand with the $100 target being pushed to years end which isn't bad considering they have been predicting the return of $100 Oil since June 2022. I feel that a $2 drop isn't the end of it if the worse happens tomorrow with the Inflation reading Oil should punch through $73 and if it has momentum $71 is the last support. The US is in trouble from Inflation - Financial Crises - Deflation I'm seeing this heading well into 2024-25 but for now, Oil demand will suffer unless China, the US, and Europe pull a rabbit out of the hat for anything bullish to happen tomorrow,
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