Severe Power Shortages Stoke Crude Demand: Oil Price Forecasts Adjusted Upward

Investors are grossly underestimating the impact the shut-in Libyan sweet crude oil production will have on energy markets this summer and fall. Additionally Yemen is moving toward a possible civil war with escalating violence this week - the country shares a lengthy border with Saudi Arabia.

And investors are overlooking the ongoing electrical power shortage in China and elsewhere in the developing economies – the worst seen in years - which will create additional demand for oil products to fuel electrical generators.

Recent developments continue to support a bullish outlook, and analysts sharply increase their oil forecasts - as discussed today:

With regard to the market monetary indicators have turned bullish according to Don Hayes at Hayes Analytics - with their monetary indicator pinned at the maximum bullish position.

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