VIDEO: Stock Market Outlook 2024: The Perils and Profits Ahead
By John Persinos
Welcome to my latest video presentation. The article below is a condensed transcript. For additional details and several charts, watch my video.
To glean a strategic view of the markets, coupled with specific trading advice, I interviewed my colleague Robert Rapier, chief investment strategist of Utility Forecaster, Rapier's Income Accelerator, and Income Forecaster.
Robert Rapier isn't just an investment expert; he's also a polymath. He has degrees in engineering, chemical engineering, and mathematics. When he speaks, investors should listen. Our discussion emphasized the utilities and energy sectors, his specialties. My questions are in bold.
The Israel-Hamas war qualifies as a "black swan" and it has helped push crude oil prices higher, due to worries over supply disruptions. The Russia-Ukraine war, and tight supplies caused by OPEC+ production curbs, also have provided a tailwind for crude prices. Where do you see the per-barrel price of oil heading in the next few months?
The concern over the war is that Iran gets involved, and they are a major oil producer. So, that makes the oil markets very nervous. There are several dynamics in play here. We are headed into an election year. Typically, presidents pull out all the stops to bring oil prices down in the lead-up to the election.
However, in this case, President Biden already utilized a tool often used by presidents, tapping the Strategic Petroleum Reserve (SPR) in order to put more supplies on the market to bring the price down. Since the SPR has been significantly depleted, that tool isn't in the arsenal. And it empowers Russia and Saudi Arabia to disrupt the markets.
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