The CME Heating Oil Product “NY Harbor Ultra-Low Sulfur No. 2 Diesel” provides some insight to the direction of global crude oil prices. Over the next several months a second peak in Commercial Trader positions is expected. This will lead to oil prices moving significantly lower. Note that previous peaks led to a decline in 2014 – 2015 and 2020. As a result of current positioning, the Dow stock, Chevron is expected to have a substantial decline in 2025. It is possible this decline could run into 2026.
Note that this information is for educational purposes only and not a recommendation.
Stock charts courtesy of StockCharts.com.
