Mar. 20 at 12:06 AM
$GLD $GDX $B $JNUG $SLV
Get ready—prices will likely continue rising for a while.
“.. The apparent stability in Brent & WTI should not be taken as evidence of ample global supply. .. If the Strait does not reopen, this divergence is unlikely to persist: Brent and WTI will ultimately reprice higher as Atlantic basin inventories are drawn down ..”
“Our scenario analysis suggests that the risks to oil prices remain skewed to the upside on net both in the near-term and in 2027… oil prices may stay above
$100 for longer in risk scenarios with lengthier disruptions and large persistent supply losses.” - Goldman Sachs
“Brent is likely to exceed its 2008 all-time high if depressed flows keep the market focused on the risk of lengthier disruptions.”
“The paper markets… have entirely disconnected from the physical markets.”
https://www.ft.com/content/320156d4-2c43-49c3-a005-e9c6f1d4b4e4
