So a week ago crude jumped up to $95/barrel after need of the Saudis cutting production by a million barrels a day and Russia stopping all exports of refined petroleum products as they have internal shortages. Pundits were saying it could hit $150/barrel.
Then the latest EIA report this week said demand for gasoline in the US dropped by 600,000 per day. Crude quickly went down to $85 and even hit $80 today before closing around $83.
So where will it be next week? Or next month… next year?
Then the latest EIA report this week said demand for gasoline in the US dropped by 600,000 per day. Crude quickly went down to $85 and even hit $80 today before closing around $83.
So where will it be next week? Or next month… next year?
