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Strategies & Market Trends : Dino's Bar & Grill
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To: Goose94 who wrote (55356)2/28/2019 8:51:04 PM
From: Goose94Read Replies (1) of 203353
 
Crude Oil: Josef Schachter The last few times I have been on BNN.ca I stated that I had switched from being a bear to a bull on the energy sector. Our checklist items to turn bullish on both oil and natural gas have all occurred. For oil: OPEC is making significant cutbacks, U.S. production has stalled, Iran sanctions will return this spring and the tragic Venezuela problem continues. While we see lower prices for oil once winter ends and inventories start rebuilding again, our outlook gets more positive from summer on when this strong demand season starts. We look for less than US$50 per barrel in Q2/19 and then a recovery into Q4/19 to over US$70 per barrel. For natural gas very cold weather in North America and five year lows for natural gas storage have lifted the prices. Longer-term, more LNG exports from the U.S. Gulf Coast and more closure of coal fired electric generating facilities will increase domestic demand as well. AECO spot is nearing $4.00 per thousand cubic feet (mcf) – a great price for the industry if it is sustained for some time.

We see a new energy bull market has started and it could last five plus years. Natural gas will be the better performing commodity at first.

BNN.ca Market Call Thirst-day the last day of Feb 28th 2019 @ 1200ET
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