Since the end of 2022, our messaging has been consistent: survive Q1. Sadly, we are barely surviving. WTI has fallen below the critical $69-$71 support range today putting it at arm's length to the next support level of $61 to $63. The reality is that the macro situation right now with the possibility of Credit Suisse failing is so uncertain that no one in their right mind wants to go long an economically sensitive commodity like oil.
Seriously, What's Next?
Seriously, What's Next?
Seriously, What's Next?
Since the end of 2022, our messaging has been consistent: survive Q1. Sadly, we are barely surviving. WTI has fallen below the critical $69-$71 support range today putting it at arm's length to the next support level of $61 to $63. The reality is that the macro situation right now with the possibility of Credit Suisse failing is so uncertain that no one in their right mind wants to go long an economically sensitive commodity like oil.