by Garrett Baldwin | May 23, 2023 | Market Commentary
It’s no coincidence that when my momentum reading turned green last week, oil prices started pushing higher. Oil production stocks have helped lead almost every positive momentum turn in the last 18 months… and optimism has returned to portions of the economy. ...
by Garrett Baldwin | May 17, 2023 | Market Commentary
There’s a little bit of chatter this week about the U.S. government finally refilling the Strategic Petroleum Reserve (SPR) after years of dumping it to keep oil prices low. This was especially the case in the wake of Russia’s invasion of Ukraine (during an election...
by Garrett Baldwin | May 4, 2023 | Market Commentary
This week, oil prices peeled back to their lowest levels since March. Despite OPEC’s cuts in early April and Goldman Sachs (GS) projections that oil would hit $95 very soon, the black commodity has been sinking fast. The June 2023 futures contract sank from about...
