Apr. 21 at 8:33 PM
$USO $UCO $CVX $DVN $CHRD
You oil bears are hilarious. News flash: EXTENDING THE CEASE FIRE DOESN'T STOP THE WORLD'S OIL RESERVES FROM DEPLETING AS FAST AS THEY EVER HAVE. Every single day the strait remains closed another 12 million barrels of lost production eats into the worldwide inventory that has already depleted by 500 million barrels and will deplete by another 400+ million barrels even after the strait fully opens. The 2.5 billion barrel worldwide inventory at the end of 2025 was the reason oil dropped to ~
$60/bbl. No way in hell will oil drop back down to that level any time soon. Not this year, not next year, probably not in this decade and possibly never.