Do you think crude oil will hit $130 by the end of June?
Do you think crude oil will hit $130 by the end of June?
https://i.redd.it/0s098q4vi6tg1.jpeg
Posted by Spirited-Gold9629
24 Comments
Crushed-Giant on
*230 you mean?
tutah on
Is the end of June this week?
Surfer_Rick on
150+ by the end of this week.
Baron-Munc on
It’s spot price is $140 already.
Confident-Teach-2967 on
Let’s see if the usual cheeky commenters saying things like “But I thought it was supposed to hit $150 at the end of the week for the last five weeks?” or “Are these price hikes supposed to hit at the same time the empty shelves from the tariffs do?” who don’t understand the actual situation at all show up here like they tend to do lol.
Yes, there’s is a strong chance it will exceed $130 by June even, I think it hitting it $150 is more likely by then. The last shipments from the Strait from before the war are hitting us in a couple weeks, (most other places like in Europe and Asia have already gotten their last shipments very recently) and then we likely have at least a few more weeks after that before the shortages become very apparent.
Prices are likely going to explode near the end of April / early May – maybe summer / into June if we are really underestimating supplies / being really optimistic and how long we can put it off and how long the market can be manipulated for, but unless the war ends in next few weeks, the Strait opens up completely and we go back to business as normal this is basically guaranteed.
Roamingspeaker on
It’s sort of roughly gone up about 10$ a week on average. We started at around 70$ and now are around 110$. This trend will continue and will probably have some explosive leaps forward and then drop down to new resistance levels.
If this goes on until May, you’ll be at 130$.
NolanR27 on
If you mean coming back down from demand destruction lmao
addigity on
Don’t think so, I’m bullish on the whole thing wrapping up
x2manypips on
End of week looks like. Really bad situation we are in
Anxious_Cow_Wow on
“Do you think the chinese flu will come to the US?” -Reddit, Jan 2020
Retirednypd on
End of june??? Next week
peet192 on
It’s already at 141 for spot price.
juggarjew on
Well, the situation over there certainly isnt getting better, in fact id say its getting worse as we face multiple downed aircraft and even a lost pilot… so yeah, I can imagine the outlook not being great right now. We are moving in a bad prolonged direction currently in this conflict. And Iran is showing no signs of capitulating.
tomaburque on
Trump and Hegseth are firing generals because they can’t handle the truth: Hormuz cannot be opened by force, only by negotiating with Iran.
Iran can launch missiles and drones from mountain hiding spots hundreds of miles away, and only one has to get through to put a big hole in the side of a tanker. Hormuz can only be opened by negotiating with Iran after Trump killed their supreme leader and insulted them, and laughed about blowing up their stuff “for fun”. Negotiating with Iran and acknowledging their “Trump” card – the Straits – would involve Trump eating some humble pie, and he can not and will not do that. So he’s stuck like Chuck, and looking for others to blame.
Meanwhile, the clock is ticking towards a worldwide recession that he will be blamed for. Oxford Economics thinks that it will be about August if nothing changes.
24 Comments
*230 you mean?
Is the end of June this week?
150+ by the end of this week.
It’s spot price is $140 already.
Let’s see if the usual cheeky commenters saying things like “But I thought it was supposed to hit $150 at the end of the week for the last five weeks?” or “Are these price hikes supposed to hit at the same time the empty shelves from the tariffs do?” who don’t understand the actual situation at all show up here like they tend to do lol.
Yes, there’s is a strong chance it will exceed $130 by June even, I think it hitting it $150 is more likely by then. The last shipments from the Strait from before the war are hitting us in a couple weeks, (most other places like in Europe and Asia have already gotten their last shipments very recently) and then we likely have at least a few more weeks after that before the shortages become very apparent.
Prices are likely going to explode near the end of April / early May – maybe summer / into June if we are really underestimating supplies / being really optimistic and how long we can put it off and how long the market can be manipulated for, but unless the war ends in next few weeks, the Strait opens up completely and we go back to business as normal this is basically guaranteed.
It’s sort of roughly gone up about 10$ a week on average. We started at around 70$ and now are around 110$. This trend will continue and will probably have some explosive leaps forward and then drop down to new resistance levels.
If this goes on until May, you’ll be at 130$.
If you mean coming back down from demand destruction lmao
Don’t think so, I’m bullish on the whole thing wrapping up
End of week looks like. Really bad situation we are in
“Do you think the chinese flu will come to the US?” -Reddit, Jan 2020
End of june??? Next week
It’s already at 141 for spot price.
Well, the situation over there certainly isnt getting better, in fact id say its getting worse as we face multiple downed aircraft and even a lost pilot… so yeah, I can imagine the outlook not being great right now. We are moving in a bad prolonged direction currently in this conflict. And Iran is showing no signs of capitulating.
Trump and Hegseth are firing generals because they can’t handle the truth: Hormuz cannot be opened by force, only by negotiating with Iran.
Iran can launch missiles and drones from mountain hiding spots hundreds of miles away, and only one has to get through to put a big hole in the side of a tanker. Hormuz can only be opened by negotiating with Iran after Trump killed their supreme leader and insulted them, and laughed about blowing up their stuff “for fun”. Negotiating with Iran and acknowledging their “Trump” card – the Straits – would involve Trump eating some humble pie, and he can not and will not do that. So he’s stuck like Chuck, and looking for others to blame.
Meanwhile, the clock is ticking towards a worldwide recession that he will be blamed for. Oxford Economics thinks that it will be about August if nothing changes.
[https://www.oxfordeconomics.com/resource/prolonged-war-in-iran-could-tip-the-global-economy-into-recession/](https://www.oxfordeconomics.com/resource/prolonged-war-in-iran-could-tip-the-global-economy-into-recession/)
Your optimism is inspirational though concerningly fool hearty.
Wasn’t Thursday’s spot price $141? Aren’t we expecting that sort of price early next week?
Yes
Yah, could also hit 200 if US starts invading.
I thought it was supposed to be $300.
you mean “still be above $130 by end of June” right?
answer is yes.
This month is the last calm period. Wait 1 month and you’ll believe in any worse scenario
Spike to over 120 easy this week. Boots on the ground scenario? It’s the end of June Thursday lol
Why oh why do ask about the price of oil without specifying futures, cash price, WTI, Murban, Brent, or WD40?
WTI will be over $140 by Monday.