Chris, one more thing to wrap our brains around in this period of oil glut is the possibility of Iran having all of its sanctions removed. Alternately, the Department of Defense is ramping up for an offensive against ISIS in Mosul. So many variable to consider, but I think it would help traders to take a step back from the ticker tape and realize that the U.S. plans to continue production at around its current level for at least the next five years. I see more down side than upside for WTI, which is sad because I am long oil.
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Oil Megaphone
How big will that Megaphone get though. Waiting for lifting of Iran sanctions to be finalized before putting any more money into oil.
The Next Financial Crisis – Part III
Chris, one more thing to wrap our brains around in this period of oil glut is the possibility of Iran having all of its sanctions removed. Alternately, the Department of Defense is ramping up for an offensive against ISIS in Mosul. So many variable to consider, but I think it would help traders to take a step back from the ticker tape and realize that the U.S. plans to continue production at around its current level for at least the next five years. I see more down side than upside for WTI, which is sad because I am long oil.