“If the war ends oil will likely collapse. If it escalates, everything else collapses, and oil will follow. Either way I don’t see long-term upside for black gold.”

Futures sky-rocketed overnight as Putin hinted at positive "shifts" in discussions. Short-covering. As I've said, if the war ends oil will likely collapse. If it escalates, everything else collapses, and oil will follow. Either way I don't see long-term upside …

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