(Oil & Gas 360) – Consensus-Beating Growth + Peace (Achieved Peacefully Or By Force) Has Us Predict Oil Prices Lower For Consumers & Profitable For Those Producing It.
Price relief for consumers and profitable prices for those producing oil & natural gas is the future. Today’s 1.5% jump in the S&P 500 (Figure 1, blue line) and 2.0% for the NASDAQ (green line), to more new record highs, highlights oils price decline encouraging cost relief fueling growth continuing. While oil cost relief has energy stocks down (line, bold, red), the sector continuing to outperform confirms the need for another Drilling Boom. Oil prices decline but to profitable levels. Natural gas prices increase much to very profitable. The Drilling Boom will have prices long-term nicely affordable.
Operation Epic Fury leaped crude oil prices to determine where what was available went. Project Freedom highlights the goal is PEACE, that will have hundreds of millions more Prospering. Operation Epic Fury taking place, to end the Rulers of Iran’s decades long war (before they can use atomic bombs) had them close the Strait of Hormuz and leap spot market crude oil prices (Figure 2). However, Free Markets working and U.S. efforts and Force working, sorting things out, have price peaks reached. Mainstream stock prices up nicely today reflect Project Freedom efforts to increase supply dropping today, the West Texas Intermediate (WTI) crude oil futures price for June $7.19 per barrel to $95.08. And the Brent Financial June futures price $7.77 to $96.91.
While oil prices leaping with Operation Epic Fury had mainstream stock prices drop during March (on recession and other fear) U.S. hiring increased 655,000, to 5.6 million in March confirming much needing to be done. While fear and worry increasing dropped the S&P 500 565.14, from 6,908.86 February 26 to 6343.72 March 30 (Figure 1), Tuesday’s U.S. Job Openings and Labor Turnover Summary (JOLTS) shows 5.554 million non-farm employees were hired in March (Figure 3, red line), 655,000 (13.4%) more than February. The most since February of 2024 (bold line).
And while layoffs and discharges increased back up to October’s level, the number continues to be down in economic growth territory. The JOLTS report shows seasonally-adjusted, non-farm layoffs and discharges increased 153,000 in March to 1.867 million (Figure 4, red line). That has it near 1.891 million in October. Nevertheless, this economy measure continues to be down in economic growth territory. There is no suggestion of a jump to the increases with the 2001 (bold line), Crash 2008 (green line) and 2020 Coronavirus (blue line) recessions.
MIKE SMOLINSKI ARTICLES
By oilandgas360.com contributor Michael Smolinksi with Energy Directions
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