Re: Oil-JP Morgan Call Highlights.
JPM had a conference call today covering both macro and micro themes in the energy space. I will just summarize salient macro points.
JPM thinks COVID is about to peter out based upon the 1918-19 analog of 4 waves lasting 20 months. Mobility trends are corroborating this.
Oil is still cheap relative to other energy commodities. Coal prices are implying $150-$200/bbl for oil.
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