yes, and in particular I remember 1999 -g
The only thing about '98 is that oil prices were substantially different (and US dollar as well). So, with concerns over industrial demand and world slowdown, will OPEC stay in control or will the likes of Russia prod, etc. throw a wrench into the works. IMO, the U.S. keeps trying to talk down oil prices or encourage lower prices (to OPEC) "because" of the spectre of worldwide slowdown, however I can't help but think that if the U.S. dollar cracks, there's a substantial population in the world that will benefit from what would then be lower prices (to them) which would effectively stimulate those economies and some demand. (recognizing that this is a big if, given weakening industrial demand, etc). Anyways, watching oil prices and the U.S. dollar with interest, plus unfolding events related to last week's tragedies.
AGAs out at 11:30ET tomorrow, I guess. AECO spot weak at C$2.34-$2.43.
Regards, t. |
