Power of prediction 77/100!

Yes! I can communicate with the fossil fuels...

I am very grateful to the small group of friends and former colleagues who took the time to contribute to the simple poll that we ran on LinkedIn. It looks like this group's ability to forsee the future produced very strong result and made me realize that I should consult with them more often. In investing, any result better than 50% is GOOD!

The result clearly shows that the majority of the voters believe that the spike in the oil prices has been temporary. As Igor Putilin, Head of Investment Research at Art Capital (Ukraine) said in the comments, "Friday’s rally was driven more by geopolitics than fundamentals. Geopolitical risks don’t last long."

And VOILA: "Mounting speculation that Iran’s nuclear deal may be revived, potentially paving the way for the removal of U.S. sanctions on the nation’s crude exports, is damping some of the bullish signals. The oil market’s structure weakened markedly on Friday, and one oil-focused exchange-traded fund saw its biggest withdrawal since July 2020," says Bloomberg

I hope we predicted correctly, and the oil price will continue going down for the next few weeks.

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