Quote:
Originally Posted by Bunk
WTI at $66 and rising, seems fairly significant. Is this price escalation going to sustain? Admittedly, my knowledge of oil markets is somewhere between nothing and very little.
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It looks like it should sustain for a little while. OPEC is still sitting on a boatload of spare capacity, but seem to be managing the market tightly. Some of it is optimism about reopening, but there's also concern that the market will be tight in the coming years due to underinvestment.
Everyone is still waiting for the rug pull, but by all indications things are sitting pretty solid for now.