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WTI crude oil price could drop under $50, Mike McGlone suggests
Energy strategist Mike McGlone raises the possibility that WTI crude oil prices could fall as low as $50, or even lower toward $100, by the time of the U.S. midterm elections.
His commentary signals a bearish outlook for crude oil prices in the near term, as referenced in a recent social media post.
McGlone previously noted that crude oil and gold could climb 20% in 2026 in response to rising tensions between the U.S., Israel and Iran, with further upside dependent on the duration of any conflict, according to his earlier projections. He has also observed a breakdown in the correlation between Bitcoin and stocks, suggesting potential for sharp declines in cryptocurrency, as detailed in a separate market commentary. These views reflect McGlone's recent caution across multiple asset classes.
This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.
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