US oil prices have gone parabolic with prices not seen since 2011. With current prices at $114 per barrel, it is going to target $147 reached in 2008. The scary thing is we might reach that level very soon, due to major supply concerns as big oil companies are cutting ties with Russia and also, if you dig into the US oil companies, they have cut back on capex in the past few years. During the pandemic we had too much oil as prices dropped below 0 and then suddenly, we have too little. Crazy oil markets!
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