Time to short crude oil soon? Following SCO

Discussion in 'ETFs' started by KCalhoun, Mar 8, 2021.

  1. RedSun

    RedSun

    It is never a good idea to fight the trend of CL.

    The supply glut of CL has been depleted, almost completely. Sure are still at 5-year average stockpile. But it is a sea of change from last year's negative price.

    https://www.worldoil.com/news/2021/4/16/historic-oil-glut-amassed-during-the-pandemic-is-almost-gone

    If I'm short CL, I'd be concerned. Demand is rising, seasonal summer inventory draw has started. USD is weaker and the reflation trades will likely come back on. All of those will likely support a stronger CL and other commodity prices. Also look at corn price.
     
    #21     Apr 19, 2021