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Crude oil doom-and-gloomers are falling by the wayside.
U.S. prices exceeded $40 a barrel last Friday, June 19, up over 200% from April’s historic low of -$37.63. Though it retraced some gains after that. Both major benchmarks recently closed at their highest levels since early March.
This marked the seventh rally in eight weeks for West Texas Intermediate (WTI), the U.S. crude oil benchmark. Same for Brent crude, the international standard.
Why the rising oil prices? A couple of reasons…
- Increased demand associated with reopening the U.S. economy. All states are now “open for business” in some form or another. And the U.S. is by far the largest consumer of oil in the world.
- The Organization of the Petroleum Exporting Countries (OPEC) and its allies agreed to a global cut of 9.7 million barrels per day through July.
- Oil companies have been shutting off drilling rigs across U.S. shale.
It may sound ominous — “cut” and “shutting off” — but these moves will help reduce excess supply, a necessity in today’s world of diminished airline travel and fewer workplace commuters.
We’re already seeing the effect of these changes.
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The Saudi-Led Ploy to Crush America’s Petroleum Industry and Demolish the U.S. Dollar…
Now, look, the second part of this two-phase plan could crush U.S. oil, the stock market and, most importantly, our currency…
Far worse than anything we’ve seen before.
Everything you’ve seen going on in energy stocks – for example, the huge 50% drops in value – well, all of that could be just a taste of what’s to come.
And the U.S. dollar, which has been the world’s most powerful currency for five decades? Well, that’s about to end.
My research shows all the dominoes are lined up for a severe disruption of the American way of life.
When the blocks begin tumbling down, they’ll take with them the stocks you own…
They’ll take with them your buying power. Food, gas and housing costs will start rising, perhaps slowly at first… but soon skyrocketing at rates we haven’t seen in decades.
The falling dominoes will pull down pension funds… retirement plans… small and large businesses alike… and, worst of all, the dreams of millions of Americans.
If you were hurt by the 2008 financial crisis, you’re going to want to be prepared.
Because I expect the final phase of the Saudi “oil weapon” will trigger a massive shift in the global economy.
Specific high-danger zones I’ve identified include…
- Particular stock sectors that are likely to be hit very hard. For example, many U.S. oil and energy companies could crumble an additional 70%, 80% or more… and dozens will go bankrupt.
- Inflation soars too, with a corresponding crater in many widely held bonds.
- As inflation soars, real estate may go through another crisis… Think 2007 to 2008, but worse.
- And unemployment could also soar even higher than the 10%-plus rates we last saw in 1982 and 2009.
Find out why it’s not here.