Thanks to Lowem’s SMS, I rushed to capture this overnight spike in oil prices to reach $101.43!!
The News says it’s because USD dollar had slumped even more and created the sudden increase in oil prices.
OPEC also agreed that they will not increase supply saying they are afraid of “global slow down in demand” of oil. This or the real possible reason that they had reached PEAK Production in oil and “would” not or “could” not raise their production.
This couple with IRAN Nuclear tension with the United States, the oil prices is bound to breach higher prices later in the 2nd quarter of the year. The hints of USA trying to stop Iran’s Nuclear Reactor from starting are everywhere….and it’s starting soon.
Now the prediction of the future…Can we see that happening?
- Sudden Oil shortage because of Straits Of Hormuz Regional (IRAN) conflict.
- Super high oil prices (Above $150) for a short while before sharp correction (Repeat many times)
- Roller coaster stocks exchange causing record numbers of bankruptcies
- Chaos in third world country that suddenly cannot afford oil anymore.
- Banks and financial institutions starts merging rapidly or closes down.
The rest you will need to wait and see what will happen…no dateline to set this time but the gut feeling that it might just happen in a short time.
Popularity: 1% [?]
