T. Boone Pickens warns that oil prices will rise by at least 50 percent in the next 12-18 months. This should not surprise anyone, as prices at this level are as much an abberation as they were late in the previous century. Enjoy these lower prices while you can.

https://finance.yahoo.com/news/brent-oil-90-100-12-130430674.html

Note in the following chart that gas prices have shown wild swings from the mid 70's, more particularly from the the late 1990's (they were more stable earlier, but that's a different chart).

Current prices are more an effect from over supply than the currency and political/military events of earlier times. The oversupply issue is in correction mode at this very moment, so prices will have to rise sooner than later.

What this will mean for metals and mining remains to be seen, as that market is probably more effected by currency values than supplies.

...just a few thoughts for the day.

VP