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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (53899)	1/25/2019 8:23:57 PM
From: Goose94	Read Replies (1) of 203382

Crude Oil: Eric Nuttall 2018 was a soul-sucking experience for energy investors. For the second year in a row, their patience and willingness to endure endless volatility with no reward were tested. What began as mild optimism evolved into euphoric calls for a US$100 oil barrel by midyear, only to see crude prices plunge from October through December by an extent not thought possible by sober minds (47 per cent). Mass financial liquidation led to oil falling far below what physical/fundamental loosening would have suggested and the snap back from the Christmas Eve low of US$42 to now US$53 is proof of that. We believe that WTI will strengthen to US$60 per barrel by midyear and end 2018 at around US$65. While this is below our more bullish calls from earlier in 2018, we remain bullish on oil in the short, medium and long term. Given the historic dislocation between the oil price and energy stocks over the past several years, any semblance of generalist re-entry into the sector could see many energy stocks rally by 50 to 100 per cent. The confusion and apathy in the energy sector has never been greater, valuations have never been lower (using US$60 oil) and several catalysts exist this year that could propel oil higher than what we’re officially forecasting (and energy stocks along with it). BNN.ca Market Call Friday Nov 16th @ 1200ET

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