Could there be some unknown factor at play in this? Likely raw supply, which some are saying there may be a ceiling that we are not estimating correctly. Just a thought.
Speaking on a personal level, I averaged 51.2 mpg in the Audi, taking the girls to school. Where this is a good mpg figure, it almost killed me to drive like the grandpaw I am!
Whenever you are dealing with markets most of your factors qualify as "unknown". Adam Smith called it the invisible hand for a reason.
That being said, Bloomberg reported yesterday that TotalEnergy's oil trading arm is bidding up the price of West Texas Intermediate for delivery at the Cushing hub. This is market making behavior, and is qualitatively different from organic demand for WTI.
Behaviors such as that are relatively common in commodities markets. Which is why you have to look at the totality of the market to ascertain broad levels of demand.
Could there be some unknown factor at play in this? Likely raw supply, which some are saying there may be a ceiling that we are not estimating correctly. Just a thought.
Speaking on a personal level, I averaged 51.2 mpg in the Audi, taking the girls to school. Where this is a good mpg figure, it almost killed me to drive like the grandpaw I am!
Whenever you are dealing with markets most of your factors qualify as "unknown". Adam Smith called it the invisible hand for a reason.
That being said, Bloomberg reported yesterday that TotalEnergy's oil trading arm is bidding up the price of West Texas Intermediate for delivery at the Cushing hub. This is market making behavior, and is qualitatively different from organic demand for WTI.
Behaviors such as that are relatively common in commodities markets. Which is why you have to look at the totality of the market to ascertain broad levels of demand.