$110 Crude Oil and Spare Capacity
Oil prices are on the move this week, jumping over the October peak around $85/bbl to touch the highest price since late 2014:
Source: Bloomberg
In short, I believe tumbling spare capacity in OPEC+ countries raises the probability of a spike to the top of the 2010-2014 trading range in the $110/bbl region at some point this year.
For a more detailed look, check out my piece just published over on SeekingAlpha that’s available by tapping here.
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