The gleeful Eric Nuttal mentioned the probability of $150 -$180 a barrel by fall. His statement was that until we see money go into capex the price will climb. Even then it takes years for new production to come online. It doesn't look like the war in Ukraine will see resolve anytime soon. As long as that continues price will stay high. However, I am starting to see a lot of toys (boats, RVs, 5th wheels etc.) for sale. Those that have money will travel/play no matter the cost after being cooped up for the past couple years. That should keep a floor under oil prices. Also, the EV market disruption will not be immediate. Still a lot of ICE out there and other uses for oil beyond gasoline.