Today I feel like I am living in what St. Augustine calls, “The City of Confusion”. WTI is trending upwards but I cannot see why with any reasonable explanation. The news agencies are split with some touting the Covid-19 vaccine and others expressing negative sentiment regarding extended lockdowns.
I publish a weekly article, “By The Numbers”, where I present key energy statistics. I see nothing in the data to indicate why WTI is essentially back to where we started early this year. WTI was basically trading at $50 in the 1st Qtr of 2020.
It is so hard to see any trend in the midst of all the talk in the media and the press releases: election fraud, Chinese espionage, restaurant shutdowns, possible forced vaccinations, etc. This is “The Land of Confusion”.
