In 1973, oil prices quadrupled overnight when tensions in the Middle East escalated. Gas stations ran dry, inflation spiked, and the global economy shuddered. The impact of Geopolitics on Oil Prices: https://befluentinfinance.com/oil-prices-forecast
That was then. This is now. We are the number one crude producer. Most countries for a few years now, including the big one China, have had declining and/or slowing overall demand. If the Straits of Hormuz is somehow blocked of course the price of crude will head higher. But how much and for how long is anyone's guess ATM.
How many people suddenly became instant millionaire/billionaire overnight? Who were those people? Did they have foresight / Inside story? How much money did you earn / lose in 1973? What are the lessons learnt? etc etc
I think that's where Soros' & his partner made their initial fortune. I think they were heavily long crude futures. I remember Soros' partner (Mr. Bowtie) in their hedge fund used to come on CNBC in the late 1990s all the time warning of a massive bubble in tech stocks.
oil is the easiest commodity to make money, buy low, hold and sell high. it was below 58 not long ago, anyone can buy at that price and hold, any bad news can rally the oil to low and mid 70s be patient
Be patient....this is a trading forum. We're not a young Warren Buffett planning on holding and investing till eternity and managing funds. We're here for the kill
Ahh the good ole days. How much fun was it back then to have a shiny new Ford Pinto and know that if you got rear ended at a red light that you had 4 tenths of a second to get out before it exploded? Good times.
Jimmy Rogers also said this century would be China's turn to lead. 1/4 of the way thru not so far, though Dotard II lately is helping somewhat make this closer to reality.
When China has > 15 aircraft carriers (and thousands of J10 or better) and can sail off the coast of Maine to Florida to Texas, then it is China's turn to lead. But new superpower will bring new problems.