Oil price direction

Lets talk about it, Oil prices.

The reason we talk about oil prices is because it literally affects everything. You need oil to move things in the market, to make things, to keep people and things clean, overall to keep this world moving. It is this essential item that we must have. It is also the one thing that no one really wants to talk about.

I see the inherent absolute need for the US goverment to get and keep prices down, with mandate through November. Usually incoming hurricaines will cause the price to increase. Weather services has been telling us since last year that this was going to be one of the largest hurricane seasons on history since hurricane Katrina. I have friends in Texas & family, we used to live there.

They are watching and waiting because things look very dramatic and very bad but you never know with The Weather Channel, they have a very dramatic way of placing even small amounts of weather on high alert. I Used to keep my Doppler radar attached to the roof, yes, even with it my own antenna. I didn't want anybody else to be in charge of my future or lack there of. Unfortunately I think this is caused many people to get a bit of weather dysphoria. It's like they don't ever believe it's going to happen to them, most of the time does not, but recently we have heard some incredible stories very severe tornadoes, hail, storms, and even deaths.

This weather warning has given the United States plenty of headwind to store oil and plan for the incoming disaster now if they did that, that would be another another thing alltogether. We're going to hope that this is the case. I cannot find news of it though if you see some, please let me know. I do see lower EV implentation, which during the summer months means that there's more demand for oil which also will drive the price of oil higher. Here we have two competing theories. I expect extreme volatility at this rate, but I am going to move with the price of oil going down. I believe it's paramount for the incoming election, but expect to see some volatility.

As of July 8, 2024 the price of oil is about $82. I'm talking about WTI crude.. please feel free to add any input here if you have any I love to talk to you about it. There's not many oil traders out here. I have met many gold and silver traders and love to follow this investment strategy as well, it's important to remain fully diversified.

As for stock trading, I'm sure all of you are following along with the Nvidia, Google, Tesla, and the other big team runners.

Best to you all!

Stay focused stay alert! Don't get distracted by what's on the news guys.

You knew this was going to be a tough season and it's about to get tougher.

Much love to you all.