Bloomberg: Analysts at Raymond James invoked one of U.S. President Donald Trump’s favorite phrases to explain oil’s descent into a bear market — and bolster their case for why crude can rise to as much as $65 a barrel.
Conventional wisdom holds that resilient U.S. shale drilling, underwhelming progress towards OPEC’s goal in slimming global oil inventories, and output recoveries from nations exempt from the deal to curb production helped push crude down more than 20 percent from recent peaks.
But according to analysts led by J. Marshall Adkins — noted oil bulls — the bad times for oil can be chalked up to “fake news” that amplified the downside.
While increasingly lonely in our bullish oil price view, we are still convinced that oil prices are on track to set cyclical highs over the next six to 12 months. more …
Opinion: Actually, our post from May 8, 2016 “Oil Technician Makes Shocking Call: Expect crude to hit $90” echoed the Raymond James prediction:
“Bill Strazzullo, chief market strategist at Bell Curve Trading — who correctly called for crude’s plunge to the $30 range back in 2013 — said oil could be on the verge of a massive rally.”
The purpose of this post is by no means to encourage oil speculation but to point out how a bull market in oil could bring about prophetic wars.
On May, 2016, YNet News reported the Israeli Oil Reserve located near the Dead Sea is estimated to be worth 1.2 billion shekels.
On October 2016, Afek oil reported a massive oil find in the Golan Heights, one of the few lands conquered in the 1967 war that Israel has not given back.
While Israel remains quiet on the Golan oil, experts are predicting that there is more oil in Golan than in Saudi Arabia, making it a major target for Syria, Russia, Iran and Turkey who all have a strong interest of controlling that oil.
The interesting part of the story is that Israel’s growing gas and oil reserves could be commercially available by late 2018-19 setting the stage for a potential Russian, Iranian and Turkish invasion as found in prophecy.