The renewed vigor in oil prices of late is only just the beginning, contends veteran industry analyst Phillip Streible of Blue Line Futures.
Streible thinks oil prices are at risk of hitting $60 in the near-term due to an Omicron-related demand slowdown. But that will likely prove to be a buying opportunity in front of a “long-term” rally in 2022.
“We are going to see the demand picture continue to pick up going into the [summer] driving season. Hopefully we can get this pandemic behind…
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