Wall Street Bully | OilPrice.com

Oil prices fell on Friday, but it still made a small weekly profit Investors continue to weigh in on a strong global market in the wake of the alarming spread of the Coronavirus Delta. Oil prices have fluctuated over the past few weeks, with delta boosting slowing global oil recovery. The latest report »Growth in the second half of 2021 has slowed sharply as new COVID-19 restrictions reduce activity and oil consumption in many major oil consumption countries, particularly in Asia.“IEA wrote the monthly oil report.

According to the IEA, demand decreased last month by 120 kb / day, and the group predicts that growth will decrease by ~ 500K bb in the second half of the year compared to previous estimates.

The good news is that the IAAI has raised its oil price target for 2022.

With global oil demand now rising by an average of 5.3 MB / d, by 2021 to 96.2 MB / d, and by 2022 by 3.2 MB / d, the IAAI also predicts that we will begin to see a return to US demand. Next year, non-OPEC supply is expected to increase by 1.7 MB / d by 2022, with the United States accounting for 60% of growth. Baker Hughes’s latest weekly survey found the number of active, oil-targeted rags in the United States It has risen in height from 10 to 16 months 397 regulars.

Meanwhile, investors in the Binden administration have recently been trying to determine if their call for more oil to be opened by OPEC, but not by US manufacturers, is too strong or boring.

»This sent a mixed message to the market, and this fragmented floating power policy is both in the minds of critics and supporters of the administration., ” Phil Flynn told Price Future WSJ.

Here’s a look at what other Wall Street experts say about oil prices.

The big bubble

An Investor Hall of Investors warns that certain sectors of the US market are in the bubble region and urges investors to swap prices in the area of ​​inflation.

Richard Burnstein, CEO of Richard Bernstein Consultants and CEO, Big Tech, waving a red flag on long-term assets, including long-term bonds. meme stocks, And bitcoin.

»Maybe we’re right in the big bubble of my career,Bernstein told CNBC.

»The federation has distorted the long end of the curve so we are seeing a very natural reaction among long-term assets, which will take its own life. Anyone in these long-term assets should be convinced that long-term interest rates will not go up because it is a cryptocurrency for this bubble.. “

Bernstein recommends investing Power (NYSEARCA: XLE) and Materials (NYSEARCA: XLB).

»Over the last six or 12 months, I have found it very exciting that energy has been available in the main bull market and that not everyone is sustainable. Bitcoin was in the main bear market and is all waiting for its return. “

Related-China is still in the process of refining, but raw materials are still being maintained

The energy sector is still investing

In an interview with CNBC Trading Nation, Tokkeville Property Management Portfolio Manager John Petrides said the energy sector is growing and the world has been using fossil fuels for decades. Over the past two quarters, oil and gas companies have posted significant revenue growth due to improved commodity prices. Petrides, on the other hand, suggests that it is less than proprietary and has a low value because it has only 3% of its energy content S&P 500.

After all, it indicates that many oil companies have increased their profit margins, which could serve as a big picture in this low-yield area. Recommends Chevron (NYSE: CVX), calling himSafety light“In a volatile oil market.

Regarding oil prices, Petrides predicts another oil conference:

»In a recent drag, crude oil rebounded and re-tested the July highs, but if you look at XLE, the Energy Storage ETF, it did not evaluate the lows, it is more likely. That means WTI tells me it will come back, and when it does, it will aggravate the meeting in XLE, and it will reboot.»

But Petrides warned that if WTI broke below $ 65.20, the oil market could enter the bear territory.

Long-term Bully

Jay Hatfield Field Phillin, manager of The Price Futures Group and AMCP portfolio, said the long-term outlook for oil prices was dire despite the short-term headaches.

»If COVID is a little easier, then the fall in global oil resources reports should spark another strike.“Phil Flynn said.

By Alex Kimani to Oilprice.com

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