I believed every article weeks ago when it said we will hit $100 a barrel. I also believe the ones that say we will pass $120 a barrel. Tbh $200 a barrel with everything going on right now in Ukraine is not out of the question. Many days ago I posted somewhere about buying OILU shares. I am buying more today and plan on holding until late March, and do not plan on selling until oil gets over $150 a barrel.
My favorite articles about this topic: https://www.entrepreneur.com/article/420065 and https://theconversation.com/ukraine-im-surprised-the-oil-price-hasnt-hit-us-130-a-barrel-yet-energy-trading-expert-qanda-177942
Current positions in oil stocks/etfs:
OILU (including today's buys at market open will own just shy of 460 shares)
BP 14 shares.
I want to be proven wrong about all of this – it seems like this is all too easy. Maybe because it is?
When it hits around $130 I will post again about how to trade when it begins to fall back down to where it should be (basically to buy SCO and hold for a few weeks).
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