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The Oil Price Rally Is Over

Last week I wrote that the the oil price rally was ending.  To some it may look like a price collapse now. I don’t think so but the price rally is clearly over for a while. Today, WTI futures price fell -$2.80 (-5%) and Brent fell -$1.45 (-2%). The spreads, however, are revealing. The WTI […]

Super-Cycle Silliness: Why Oil Prices Will Not Increase Much Further

Monthly oil prices have nearly quadrupled since April 2020 and that has some analysts talking about an oil super-cycle. That seems somewhere between premature and stupid at least for oil. We’re near the end of a price increase that began at less than zero back to the where prices were before the pandemic. That’s a […]