Miner Company
Oil Plunging To $50 Could Be The Next Big Catalyst For Stocks
I see oil as extremely overbought, with USO doubling since early 2026 and backwardation signaling a likely sharp price correction. Demand destruction is underway, with reduced jet fuel demand, shortened workweeks, and IEA forecasts pointing to lower global oil demand.
I see oil as extremely overbought, with USO doubling since early 2026 and backwardation signaling a likely sharp price correction. Demand destruction is underway, with reduced jet fuel demand, shortened workweeks, and IEA forecasts pointing to lower global oil demand.