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WSHazel

(903 posts)

3. I think $50/barrel is a good target

Reply to BumRushDaShow (Reply #2)

Thu Jun 18, 2026, 10:16 AM

2 hrs ago

Demand continues to decline with renewables and electrification, in addition to reduced demand per person. This puts downward price pressure on suppliers. It also encourages more production because if the long term trend is negative then producers want to produce today instead of in 5 years.

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Strait of Hormuz reopening may take weeks to ease shipping backlog and oil pressure [View all] BumRushDaShow 5 hrs ago OP

It is strange that oil is under $75/barrel this morning WSHazel 5 hrs ago #1

Since the main hold-up for the supply was transport and not production BumRushDaShow 4 hrs ago #2

I think $50/barrel is a good target WSHazel 2 hrs ago #3