August 22, 2019 at 10:37 am #17927Clarence CarrMember
Assuming that the dollar & market remain bullish then, on balance, what is your belief on Crude going forward given:
1. Oil is generally positively correlated with the market.
2. Oil is generally negatively correlated with the dollar.
3. US production & geopolitical forces.
August 22, 2019 at 10:43 am #17928David SettleKeymaster
If stocks and the dollar take off and we have a similar environment to the late 90s, crude oil initially dropped (97-98) as the dollar rallied but then finished the bull market (99-00) on a high note due to its late-cycle bullish nature.
August 22, 2019 at 7:39 pm #17953Richard SturmMember
Clarence, I believe a lot has changed since OPEC was totally in charge of the price of OIL. That being said I believe the US oil production will keep oil up for a while this summer end but then fall off later in the year as I believe the market retreats.
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