Oil prices rallied again today, hitting 7 year highs as both contracts touched highs not seen since 2014

There has been a bump up in the geopolitical risk factor that is boosting prices

Oil prices edged lower after investors took profits after two days of gains among fears of an aggressive interest rate hike in the USA

Assuming China doesn’t suffer a sharp slowdown, that Omicron actually becomes Omi-gone, and with OPEC+’s ability to raise production clearly limited, I see no reason why Brent crude cannot move towards $100

Omicron has yet to wreak the havoc of the Delta variant and may never do so, keeping the global recovery on track,

Crude prices fell Monday as concerns about demand spurred on by the rapid global rise in Omicron COVID19 infections overtook concerns about oil supply reduction from Kazakhstan.

Oil prices had a strong session today, shrugging off yesterday’s build in fuel inventories build with geopolitical tensions rising abroad.

Oil prices had a volatile session as gasoline inventories jumped by more than 10MM/bbls with sliding demand as new Covid cases jump.

Click here if viewing from mobile Attending: Curtis Chandler [email protected] 239.405.3365      David Cohen [email protected] 954.729.4774

Oil saw gains on the opening day of the new year ahead of the scheduled OPEC+ meeting on Tuesday.