#crudeoil #oilprices #oil
Bloomberg Intelligence’s Mike McGlone joins Yahoo Finance’s Brian Cheung to discuss the oil market as the Russia-Ukraine war continues and the outlook for metals amid supply concerns.
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I’ll take some of what this guy is smoking
I bet he’s right, these aren’t sustainable prices.
@Bo McGillacutty It has nothing to do with whether or not they are sustainable, the capacity and supply chain stability needed to get oil prices down that low no longer exist anymore.
Not even to mention that demand is steadily increasing. People are tired of winter, tired of lockdowns, and tired of inflation. When they see their dollars melting away into pennies, they are going to spend it while they have it.
@LaFonteCheVi ‘Not sustainable’ covers it all, it either is or it isn’t, history says it is NOT.
@Bo McGillacutty This is the new norm. World elites are intentionally crashing World currency per World Economic Forum plans of One World Government. The Great Reset, Build Back Better…. you cannot Build Back Better until you destroy currency and government.
@Kevin Gross Yeah OKAY go with that then. I don’t know how to react to that hypothesis but I’m sure you do.
: The Biden regime is a serious worldwide security threat. Biden is cognitively unfit for office and must be removed immediately! President Trump Won and the world knows it. China will join Russia and come after Biden! NATO and The New World Order. Why are Poland and Hungary being sanctioned too? Biden already gave Putin the list! They can go get our equipment out of Afghanistan. We are being played!
Even before the Russian invasion, the oil is at $90. This guy is pulling from his butt.
Bwah! Hah!! Hah!!! And where is all that extra oil coming from to support our summer driving season? Are we going to conjure it out of thin air, like Harry Potter??
YOU WILL DRIVE NOWHERE and be HAPPY !!!!
Oil is going Down Providing we all Buy Flintstones Cars
Everybody I know is buying an electric bicycle. When all the cars are replaced by electric bicycles (should take about 2 months) demand destruction will be complete.
@Tom Mak So I heard that Elon Musk is now manufacturing Flintstones Cars ? Can someone please confirm whether or not this rumor about the new Tesla self driving Flintstones Car is true or was somebody just playing a joke on me?
@224dot0dot0dot10 They make big joke on you ha ha.
Summer surge coming numb nuts
Delusional
Oh these analysts …
My Tundra only gets 14MPG, I certainly hope so!! I’m getting killed at the gas pumps.
You can convert it into a chicken coup or dog house.
Toyota: Let’s go places.😂
Prob wanna change your car. Oil price ain’t going down for years
2015 RAM 1500 4WD 3.0L Diesel 19/26
2017 Honda Ridgeline AWD 3.5L 18/25
2016 Chev Colorado 4WD 2.8L Diesel 20/28
Excellent life choices
This guy really knows his stuff. He is dead right too.
he will be dead before he is right !
Who is Brent and why does he have all the oil?
You don’t want to know him, he’s really crude.
😂😂😂
😅😅😅😅
My firm and I absolutely do not subscribe to the theory of oil falling to 40-50. Factors affecting oil are completely different from 2014 and 2008. For starters, there isn’t huge incentive to restart/absorb costs of oil drilling/increased exploration as governmental and social policies shift toward renewables with Russia further excellerating this transition. Does this mean that consumers are going to be selling their oil consuming vehicles for EV’s? Absolutely not, considering basic materials and commodities are spiking. Thus, hindering infrstructure and EV’s consumption. As employment, unemployment, labour force participation, wage inflation, and broad-based commodity remain strong/competitive, we’re likely to see increased interest rates, which will thus perpetuate debt paydown by the general oil market over increased oil drilling. This will precede transitions to renewables, which a lot of energy companies are lacking. Prior to the Ukraine conflict, oil was already set for $100+ this year, given airline ticket purchases and surveyed interests, decentralized home owners following a retail demand boom in 2020, lack of oil exploration and oil rig maintenance, and shut down/delayed logistics of oil/gas. Do not, and I repeat, do not listen to this analyst. The conclusion he’s arguing for is no more compelling that one which I conclude I’ll grow wings in the next few seconds and fly.
usually the opposite what they tell you
100% right – oil will keep climbing – thanks to ESG and lack of investment in the sector for years. The speaker is being contrarian despite reality.
That only thing that will be going down soon is the US ‘petrodollar’
100% agree
This so called transition is being forced onto people and that is why it cannot work.
Fake news 🤣🤣🤣
He’s nuts. Not going down below $75 ever again, especially not now.
No.gonit.vrau.bani.mej.banka.2022.data.15.marcius.
Sure pal !
Let’s see your trades on the short for the next interview with your money not your clients.
Lol yeah right
Holiday and driving season coming and somehow oil goes back to 50 $? With OPEC sticking to schedule and sanctions on Russia
Sees, hears all, senses all says all, knows nothing!
What? I hope so. It’s 60 dollar to fill up Corolla. Car payment is less for this car per month than gas. Sigh…
some of the stupidest things I’ve heard lol it will shoot back up baby
Yes, but resistance at $200?
No body is talking about the banks/finance companies having exposure to Russia. After loosing billions in China real estate because of the imploding of Ever grande a lot of banks are on the hook for tens of billions of losses due to their exposure to Russia.
All the banks exposed to Russia have their investments loose 90% of the value since Putin went insane. We are just months away from a Lehman moment and then the dreaded margin call.
The bear market has just begin.
2022 is the year to stay in CASH.
Is this the onion?
last time some fancy analysis told it is going up to $150 now it goes down? is these guys using cystal ball or what?
goes up 40 bucks in a week and goes down 3 bucks a week..woo hoo
Im sure youll never recover finanially from this😂
World is Still overproducing oil…time to reduce supply ..😉😏
I hope you enjoy run a way inflation, then hyperinflation. People will starve worldwide due to expensive oil.
LOL,,$40? Don’t bet on that one.
I bought oil in 2020 when y’all said it was dead and I’m selling lots of oil n making a killing while people are worried oil will rise indefinitely.
Think people, it’s not even possible to sell people stuff they can’t afford n make profit long term so it’s not indefinite….. Stop with the fear n think rationally
In other words buying big oil after the short term upside is the worst time to buy.
But do the opposite of what’s logical so I can sell oil for more please.
Fake news
Yeh this can be good for us and horrible for eu they are going to Neal before America because they are not independent
Very good report.
You’re full of $hit. Oil will never go back to $40 per barrel. Cheap oil = less demand for renewable energy. Elites worldwide are heavy invested in renewable and are using ESG to control citizens. Goto the World Economic Forum website, they brag their plan for control and One World Government. Look up: Build Back Better, New World Order, The Great Reset, Agenda 21, Agenda 2030. If you dare, look up “Bank Bail-Ins” and “Fed-Coin.”
Fake news, im invested in crude oil stock. Not a chance its going to shoot up its just going through a correction at the moment!
If there’s a shortage of fertilizer, then farmers can transition to cover crops. They’re better for the soil, and you can make money with them. Fertilizer you can’t make money with and it’s poisoning the earth.
He is reading off a script. Everyone knows oil is not going back down to 40
I wish
After EV adoption Oil will crash to $10 😂😂😂😂😂😂😂😂😂😂😜😜😜😜😜flights and shipping will
Be sooo cheap 😂😂🤣🤣🤣
Uhm. No.
It won’t be $10. Oil is going negative again. The oil industry will collapse.
Crude oil is only at $98, I don’t see it dropping to $50 a barrel anytime soon.
Russian invasion of Ukraine wont be over anytime soon either.
why not? currently 86
This guy holding some options! Lol… You won’t see $50 unless another big lockdown buddy… they want to try on $100 normal. See how it fits… $50 a barrel tells me he thinks the election was stolen…
Could this be considered spreading misinformation? 😆
@Ben B also, if you knew your markets you’d know that the energy sector is a hedge against recession…im.goijg to lay money that you support Donald Trump, just by how little effort you put into proving a point…
@Ben B also, have you taken into consideration how many more rocket companies there are now versus the last year…about 26…do you know how long they test the rockets? Years. Do you know the fuels used to test, and how many gallons? No you don’t because you haven’t done he work….gtfoh
@Worms Murphy Gaming I will come back in 6 months when oil is $50-60 a barrel and laugh at you. I’m already laughing at you liking your own comments, your insecurity runs deep. You just don’t know how to admit you’re wrong, do you?
look at the prices today genius
@Casey Edwards hey douche, look how long ago that was posted…
It hás to drop because the output of supply is not being deliver by the oil companies. Remenber when stocks like oil and gas goes up the companies must output like crazy, that is something that they having been doing. That’s a federal crime.
Does this guy not know about war on oil from the Biden admin?
Honestly we won’t know what happens with oil. It could go up or down, anybody’s guess as to what happens. It highly depends on what happens in Ukraine and China. Gas prices should lower within two weeks, otherwise the government should threaten nationalization of the oil industry.
Oil inventory is at the lowest, government killed all major oil projects, has been threatening big oils to under-produce. Oil price is bound to stay high. Biden’s bug promise was to invest more in renewable and to kill oil industry. Do you think Biden will all of a sudden support and promote oil? He becomes a hypocrit that moment
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There’s no demand wtf
You don’t even have to read the article. Just the headlines is enough.
“Saudi Arabia Considers Accepting Yuan Instead of Dollars for Chinese Oil Sales.
Talks between Riyadh and Beijing have accelerated as the Saudi unhappiness grows with Washington.”
The days of dollar dominance is limited, this will shoot up inflation in the US beyond the control
India trade with Russian oil in rupee and China trade with Saudi in Yuan
*Stay away from investing in US stocks till 2024*
😄 🤣 😂
In their dreams.
Hahahahahah biggest companys in the US u will lost a lot of opportunities thats for sure 2024 tripple now if u invest big ifdiot u are dont know notthing about investing….
Well of china keeps going into lockdown maybe 80 dollars
Have to bear it for two more years. Before America goes back to normal!!
How can the oil go down to 40… world of “analysts”. Yahoo should makes sure to put analysts in quotation now on. They are jokes
Sounds like as if Tesla could go down to $400
This is not aging well… what a dud
Why we haven’t used “GASAHOL” IS BEYOND ME…
I wish
Russian oil is still being bought around the world. We didn’t lose it. A recession is coming and Covid is back, so yes oil will be coming down.
Not sure about this but if it goes that far down somebody is looking for a bail out might be Method to the madness
I’ve listened to this fellow , usually very negative on pricing .
Russia can’t just send oil to China easier. It will have to ship to China on barges from western Russia. The fields in Siberia that pipe oil to China are smaller, harder to get, and need western technological assistance to get at.
Russia is capable of pumping oil into barges, they don’t need “western tech” to do something most other countries can do. smh. Are you living in the 1960s?
@Annabelle Lee . I’m not living in the 60s, but I have a great understanding of the energy sector unlike someone. It’s hard to pump oil into ports when warm water ports are rare, and the pipelines to them even rarer. They going to ship their european destined oil to the black sea to ship globally? Rofl good luck! Haha
@Jaric Fontaine How do you think oil has been delivered for a hundred years? Do you really believe oil was not used until pipelines were invented? Do you really believe that only the west understands how to use an oil barge? That is racism at is lowest.
@Annabelle Lee lol.
@Jaric Fontaine 👈🤡
Oil is still over 100 dollars a barrel. It’s not going down for a very long time.
So oil is at $105 right now, its not even summer yet when the world breaks out the toys and takes vacations which EVERYONE is EAGER to do as the post covid world awakens… and somehow 🤔 oil demand is going to drop?!?! Ehh, sorry, I must disagree with his perspective.
You spelled lie wrong. You spelled it ‘covid’
@Rooster Cogburn u don’t know what is mean OPEC and Biden！ If Trump is current president，oil will drop for sure.
@Rooster Cogburn mic drop 🤜🏿🤛🏿
Sorry fellas but I’ve just looked at the oil charts and the price of oil today the 21/3/2022 is $110 a barrel and there is an inverse head n shoulders pattern on the 4 hr time frame and that’s a pattern telling you it’s going up to $130
$150 is more likely than $40. This man knows zero….squat…about the energy business. Total clown.
This aged very well. Typical analysts and strategists
His argument about demand destruction is patently flawed. Oh, and WTI is north of $121 today. Wake up mike. It will be $180 by 2023.
@Dayyaan Khan Brent Crude Oil (BZ=F) might not go down in price but WTI Crude Oil or West Texas Intermediary Crude (CL=F) will definitely go down in price because the USA is now a “net oil exporter” that is not producing as much crude oil in the Permian Basin as it theoretically could produce and if the high gasoline prices are caused by a lack of refineries and not by a lack of crude oil in the USA and Canada.
@Tony M Let me guess, you heard that from Jamie Dimon. Good luck with that!
@Tony M haha, now 86.30 dude
still think the same?
fake news
Lol this guy needs to put all his money in oil short then. He should shut his trap
Yep yep to be analyst and strategist this days is equal to to be a f… idiot who bullshit a whole day
Evil people speaking to stupid people.
Yeah… When Donald Trump gets back in office!
Ya who this idiot. It will be 30 years before oil ever sees those prices again
if you have a $5 headset I don’t care what you have to say. he might be right but nobody can be bothered listening to this
Lol
Demand destruction?? Not until oil stays at $130 for 3 to 6 months
This aged properly 😂😂😂
huh??? That is a ridiculous analysis!😀
Horrible take. Oil will go higher as demand will increase. Covid lockdowns are lowering and the US is depleting our reserves. This war is far from
over and others a threatening. Ev stations have to be more predominant before we look at evs as a big threat to standard vehicles. Lybia is is not producing as well and with Russia not supplying as much to Poland, Canada etc. with sanctions oil has nowhere to go but up.
seriously missed this one, stop playing politics and be honest with what’s going on
if it goes 50 im buying oil ..if it goes to 40 than im buuuuuying oil again ..you can guess what would I do if crude would go to 30
yea it could even go to 20 but maybe for like a day? long term low for oil this year is in the 80s for brent and 70s for WTI.
Poephol
You were dead wrong on this , dude….
Yikes! Great take. Glad my 401k didn’t listen to you.
Almost everything he said was wrong. At this point, if oil goes to $40 the US economy will have collapsed. Along with the global economy. ~$100 floor for at least the next 4 years is projected, if NOT longer/forever. Many projecting the $150s IF NOT HIGHER.
Prophets. Ha.
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So the Man was mistaken at all
🤣🤣🤣 this aged so nice
yeah it did look at the prices today
@Casey Edwards yeah. Markets don’t stay the same. But i don’t think we will see 40/50 a barrel again.
@TheTriggerhappyhippi lol
@Casey Edwards lol
Today we know how wrong those ‘experts’ could be in every way, when oil is above $115 per barrel.
90 in present boy :)))
your 115 is now 56
Still waiting
ARE YOU FEELING BETTER?
YOUR INSANITY IS CRIPPLING!
$119+ !
Mr Bloomberg “Intelligence” !! This guy should be fired. His track record sucks. Never held accountable. Always thinks history give him credibility. Bitcoin pumper as well. What a racket. FIRE this useless bastard.
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when all analyst target higher 150++, and a lot of people here expecting the same, today WTI around 86.xx and on BEARISH mode. Dont underestimate old man guys..
Boy was this prediction ever wrong🤣🤣
💩
Didn’t aged well
What a joke this clown 🤡 oil is at 90+. It will go over 100* soon.
Lol Listen to these propagandists and you’ll be broke.
Hope you have boots on while watching this.😭