Monday, December 5, 2016

Normally OPEC agreements are cheated upon very quickly

If you can bet on one thing in this world, bet on a mother's love, and bet on the fact that OPEC cheats. But it will be a month or two before we know that is actually happening.

I've said for a long time that i don't expect oil to get above $52. There are so many people caught on the short side of WTI and that's what you are seeing right now. That will end sometime in the coming weeks.

A strong dollar is going to be detrimental to commodity prices. The strong dollar is going to continue to be overhead resistance on commodity prices. Clearly that adds to the price of crude oil and that is bearish in the long run.