Oil is the most important commodity. It is utilized by most everyone in some form or another.
In this video I discuss the importance of oil and what is happening with it. The impact is enormous and every analysis needs to take it into account.
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Well, being an avid diesel consumer, I'd honestly love if not many would have to commute to work that leading to less demand leading to cheaper prices. The prices however have kept on rising in here for the past few months. What is outrageous is that we have natural resources, but the price is still fluctuating in tandem with the price of the oil from the market.
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The energy sector is on fire in terms of price. That cant be denied. Oil is on quite a run and that is filtering to the pumps.
We will see how long it lasts. My view is the world cannot sustain higher oil prices, the shock can collapse the global economy. I would say, one way or another, the price of oil is going to come down.
Economic pullbacks mean less oil is consumed.
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The world heavily rely on Oil!
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