If you watched the Broncos play the Patriots on Sunday, chances are you still do not want to talk about it. Chances are also that you are devastated by the fact that they are 3-6 right now, but you are nonetheless looking forward to watching the Broncos play the Bengals this coming Sunday.
You may have also noticed that the price of oil has been declining for the past 4 days in a row…
Two things that I have learned are not for the faint of heart: watching football and oil prices.
Here are some of the recent headlines on oil prices:
The bottom line is that WTI is still at $55/barrel as I write this. According to Bloomberg Energy, WTI Crude is currently at at $55.31 per barrel and Brent Crude is at $61.84 per barrel.
I was told today that I one of my best qualities is that I am genuinely cheerful – this post is not just me being optimistic towards the Broncos and also oil prices. While we loved seeing WTI inch up and hoped it would hit the $60 per barrel mark, we cannot be discouraged by this recent slump in oil prices. We have been through worse before. Same with the Broncos, and any football team for that matter – there are ups and downs.
Folks are starting to question oil demand and try to predict what will happen next: How much will oil slide? Is $30 oil on the horizon again?
Our time is better spent looking at the “best qualities” of a circumstance or thing – instead of questioning these things. There is no rulebook by which we can predict what will happen next – this holds true for both football and oil prices.
For example, a recent Forbes article from right before oil started taking a dip – “Oil at Two-Year Highs as Saudi Arabia Engages in its own ‘Game of Thrones’” – provides some valuable insight; specifically, if WTI trades in a similar range or higher between now and year-end, 2017 will mark the first year since 2013 that the median price of WTI crude is higher than the previous year’s.
Also, it could all change on a dime. One play can change the game. One tiny change in any one factor related to oil can significantly impact the price of oil. Enter: Venezuela. According to CNBC article entitled, “Oil expert Dan Yergin on why Venezuela could cause a ‘big shock’ to the markets,” major supply constraints will impact the system if the global oil market suddenly loses Venezuela’s 2 million barrels of daily oil production.
So chin up Broncos fans and chin up to those of us watching oil prices…we cannot get discouraged yet. John Elway once said, “I’ve experienced the highest of highs and lowest of lows. I think to really appreciate anything you have to be at both ends of the spectrum.”
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