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Crude oil may follow major historical declines, Mike McGlone warns
Mike McGlone draws a comparison between crude oil's performance in 2026 and the significant downturns seen in 2008 and 1929.
He suggests that a pump-then-dump contagion is building momentum, pointing to a potentially challenging year ahead for the crude oil market.
McGlone previously projected $120 crude oil prices in 2026 alongside gains in gold, corn, and bitcoin in his commodity and bitcoin price forecast. In a separate note, he observed the U.S. Oil Fund reaching a 10-year high versus the iShares 20+ Year Treasury Bond ETF, considering the stock market’s potential influence on both funds earlier this year. These earlier assessments offer context for his latest caution on crude oil’s outlook.
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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