Mike McGlone
Mike McGlone|10月 17, 2026 14:58
Crude, Gold Could Face 2026 Finish-Line Pressure Oil has surged in 2026 while gold earlier touched a record; both may face greater finish-line pressure toward lows than highs. The US midterm elections could accelerate typical high-price cure cycles as voters' pocketbooks lean against the party in power associated with the Iran war. My annual chart highlights WTI crude riding gold's uptrend since about 2015, from around $1,000 an ounce and $40 a barrel. Will WTI crude at $101 on Oct. 16 end the year above $100? My bias is that risks may mirror crude's 2008 pump-then-dump, with a big difference -- the US has shifted to the world's top energy producer and a net exporter. Gold's 2026 low near $4,000, following the surge to a record near $5,600, could be at greater risk of breach than the high. Trump administration checks and balances might be rising along with interest rates, adding headwinds for the metal. Full report on the Bloomberg here: https://blinks.bloomberg.com/news/stories/tmseh8kgifpg {BI COMD} #CrudeOil #Gold @BBGIntelligence
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