Shaggy
Member
Gfs has a HUGE hurricane in the gulf at the end of the run. It is fantasy land but that begs the question if a large hurricane hit the west gulf of Mexico how and shuts down all the oil rigs how high would the price of gas go.
Yet we are told they have no military capability left20 missiles, they got 18 and 2 went down in the desert
Gas jumped way up overnight here. Some stations around $4 some up around $4.20The high today for the most actively traded crude month is in the high $96s. The last day that the most active month traded this high was way back on June 3rd!
FWIW the commodity insurance side of my industry was pretty spot on with price predictions over the summer. Looking ahead they're currently predicting gasoline at $4.50-$5 nationally by Thanksgiving and diesel/heating oil $6.50-$7.10. That would mean $8-$9 diesel and home heating oil on the west coast and northeast. That's about what the price is in Canada right now when accounting for the exchange rate.
You can tell trump and Iran went long last week. Who blinks first to make the short $$Crude oil futures +$2.40 back up to $102.40.