When it comes to Oil be Bullish..Russia's Oil Infrastructure is under attack and could cause Oil to rally beyond anyone's expectation. Every time I see Oil stocks selling off, I envision a lot of investors crying in their beer after selling for ridiculously low SP.. Everyone knows that under sanctions EU has been restricted from buying Oil from tankers but starting a little over a week ago EU has been buying extra Oil from Russia's pipeline which isn't sanctioned in fear that this supply line will be sabotaged ending any delivery near term. The other thing investors need to come to terms with EIA Oil Stock Reading is no more than a bouncing ball over 5yr period and is no long-term tool in judging Oil demand as you see the same pattern in high or low Oil prices. The FED Decision is the first stepping stone towards higher Oil relieving the markets of uncertainty for the time being plus if Russia's Oil Delivery comes under server damage regardless of where the US or China's economy is Oil will rally. China could introduce stimulus and on word of that Oil will rally or if SPR gives the market a large order that will also help Oil to rally there are so many reasons to be bullish for Oil that the list goes on. Higher Oil is here to stay! CPG, BTE, and ATH will reap the rewards for any holders in the coming months. Last year around the end of June till Dec 2022 I predicted $75 Oil when everyone else was calling for $100 Oil and now I'm calling for higher Oil while others lower their prices. Be careful of misleading media headlines and verify before selling as the media tries to manipulate markets with false statements. Think Bullish !!
US EIA Crude Oil Stock (5yr Chart) Ukraine counter-attack shows permanent shift in commodity flows | S&P Global Commodity Insights (spglobal.com)