Crude Went to $150 in 2008, Why Not Again?

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July 19 (Bloomberg) -- Tres Knippa of Kenai Capital Management discusses the crude oil market and explains why it could go back to $150 per barrel. He speaks on Bloomberg Television's "In The Loop."

All eyes have got to be on crude oil.

If you look at stock market crude, that is a set contract.

He said crude is trading five dollars premium to december.

This would be the equivalent of an inverted yield curve in bonds.

I do not have any reasonable price target for the upside, but as long as you see massive premiums in the front, that tells you the end user is saying, give me the crude.

Crude went to 150 in 2008. we will definitely be watching crude.

We have a market that is a little bit lower here.

Mike mckee some of -- mike mckee, some folks might be discouraged when the tech front.

Tech has been a problem.

I have to wonder if tech has run out on the string here as the economy slows down a little bit.

If you look at the chart, the eye chart and nasdaq and s&p, the nasdaq spread versus s&p, you reached an old high and failed on an old high.

If i'm going to see leadership to the downside, it's going to have to come from the nasdaq.

Thanks so much.

We will be watching all of it.

Owner ofkenai -- kenai capital management.

We went to go to the chief portfolio strategist at wells fargo.

This text has been automatically generated. It may not be 100% accurate.

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