Listen: Is the crude oil price moving higher or lower?
"It is looking like the beginning of a cruel cruel summer. Crude oil black gold is down almost twenty percent just in the last month as it crashes back towards lows of the year in with crude in such a rotten rut. We thought it'd be the perfect time to play a little game of. Oh, that's right. This is an easy game. Worry guy very simple. We go around the horn. The traders will tell us where they think crude is going, if either higher or lower. Straightforward. Right. Pete, we're going to start with you. We expand on that or just give you a higher lower an IRA starting panel. Discuss it, how giddy glass so what do you say, lower, what also lower of course guy crew, which? Yeah. Higher or lower than denominated in US dollars higher. There you go. I'm not a play the higher the interstate lower. Why lower could you scripted a better scenario for a bullish market and crew? You have Iran Venezuela dirty oil in Russia. You have teeth amount of reasons why you should be a buyer of it. Yet. It's collapsed. That's telling you something right there. So yes, you could have a little bit of a pop here, but it breaks below fifty. It's forty two next. When you say Groff's Obama. So he makes cogent argument, obviously crew should be significantly higher given what we've seen politically, and otherwise, however you had the president, jawbone at lower. And now you have a fed that's about the torch. The US dollar US style goes lower commodity go fly at why say higher, but and saying that, about the dollar as rates have come in, and as the fed has gotten dovish yet, the Dixie, the dollar index is down one and a half percent from like multi year. Highs just the other day. So I mean so you're on the dollar side of it where when I I listen. I'm also on the other side of it. I think rates are going lower. I think the dollar's gonna stay for him. I think these are like haven, sort of situations. I think they're going to continue to have this weakening data that we just had Jonathan Golub talk us through and the eight block. I just don't think that's bullish for crude right now. Yes. Young man. Raise raise my hand might have. No, because I wanted, I don't interrupt. I like the big knowledge when cool. That's what we used to do. There was a great group back in the seventies, the carpenters recall, the carpenters, Karen carpenter, brother. Why did you bring that up guy? I'm glad yes melt, because one of the great songs was, we've only just begun to bring it back to Dan, in terms of the dollar going lower, Dan. We've only just and I thank you. Yes. You're why why why is that? I was going go. But to these point crude oil just dropped ten percent in a straight line rates down. One point ten. You know, a full point in, in the last four months support. And one of the other things Steve did mention though he said, if, if it drops below fifty you'd think it goes lower. That was the if part of that whole statement. Right. So if it starts to move higher, does it go back up and testing those sixties I would say, yes, I'm with you guy because if you listen to Mike Wilson, who sits here constantly, whatever I'm here. It's like a little allemande is Palo mind he talks about the dollar all the time. And what does he say about the dollar guy going down? It's going down. It's going"