Nothing happens in an economy without energy.
And despite the current efforts & hopes to de-carbonize our energy systems, the world remains heavily dependent on oil -- especially as the dominant transport fuel in moving goods from point A to point B.
Oil has had a rocky ride the past several years, with its price ranging from a high of $120/barrel to briefly negative prices at the height of the pandemic chaos. Russia's invasion of Ukraine disrupted global trade of oil, and so, to a lesser extent (so far at least), has the resurgence of war in the Middle East.
What does 2024 look to have in store for this essential fuel?
For answers, we're fortunate to speak with the energy experts at Doomberg today. The exceptional quality of their newsletter has made them the #1-ranked financial Substack in the world, for good reason.