NewsMax/Reuters-Staff/2-24-2022
“RBC Capital’s Mike Tran said it will be high prices, not new supply, that ultimately balances the market. ‘It simply does not get more bullish than that,’ he wrote in a note this month.”
USAGOLD note: And as we have pointed out consistently, any sustained increases will eventually feed through to the inflation rate. The price of oil is a component in the pricing of just about everything else. There are other implications covered in some detail at the link.
Crude Oil
Chart courtesy of TradingView.com
