> Where does your short term reserves claim come from? Genuinely interested. Familial experience in one of the major US energy (oil) corporations headquartered

> Where does your short term reserves claim come from? Genuinely interested. Familial experience in one of the major US energy (oil) corporations headquartered in east Texas. > Regarding 118, this is about probability. Given we're at 96 and backwardated? The 118 peaks are separated by 4 weeks and the local minima of 92 from a week ago has already risen to almost 98 as of 6/3 close-of-business. This does not support a backwardation trend and, instead, could be reasonably identified as the beginning of another spike. > What is the probability that we hit 150? This is a question energy executives must answer. Fortunately, one did: The price of physical Brent oil cargoes will spike to $150 to $160 per barrel when inventories hit all-time lows in coming weeks, the executive said. “When the price gets to a certain level, demand destruction brings it back into balance,” he said.[0] 0 - https://www.cnbc.com/2026/05/28/oil-inventory-exxon-strait-hormuz-iran-war.html https://www.cnbc.com/2026/05/28/oil-inventory-exxon-strait-h...