By JM - Not to alter this thread on silver however, crude at $15- a barrel is what starts wars. Some countries economy's are based on crude being north of $65- a barrel.
Good observation, a conflict is typically the surest way to boost oil prices - maybe not this time.
Unfortunately for all of us in the US, the ultra low prices for oil has resulted in ultra low prices for finished products, compounded by greatly reduced demand has resulted that for the fuel distribution system, storage is full, the refineries cannot process more oil until there is room for finished products, which is why the oil fields are running out of storage for oil. Production of fuels is what allows for production of chemicals.
Ultimately, chemical production will be curtailed until fuel demand increases. Current diesel, gas and jet A demand is not enough to keep many refineries open, so prepare for higher prices for finished products and shortages in the chemical market.
