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Strategies & Market Trends : The Art of Investing -- Ignore unavailable to you. Want to Upgrade?

To: robert b furman who wrote (6318)	2/4/2023 2:59:26 PM
From: Sun Tzu	Read Replies (1) \| Respond to of 10709

If I recall correctly, the admin did not agree to the $70 floor. They want it closer to 65. This is one of the things that gets priced into the term structure. Even at 65, there is no reason for them to agree to it if they think the price will come lower. SPR does create some pent up demand. So oil the commodity is unlikely to crash even if we're faced with a mild global recession. The market however seems to have priced oil companies for a sustainable $80 oil. And that maybe likely, but is not a given.