Good morning. It is 68 degrees and overcast here in the Upper Hudson Valley. The forecast shows rain at some point and temperatures in the high 80s this afternoon. It's been hot around here these last few days, Saturday came through with record temperatures in the 90s. It's going to be a hot Summer.
Wall Street is closed for the holiday. I can mention that articles continue to point to an increase in the price of oil over the next period. Forbes offered some compelling reasons why. Saudi Arabia is on a plan to diversify their economy, move it away from it being exclusively about oil. The plan calls for this gradual economic change to occur through 2030. In the meantime Saudi Arabia is launching an oil company, this IPO will be coming up. Saudi Arabia wants their oil company to be extremely profitable and to finance their economic changes. So how do they make it profitable? They drive up the price of oil.
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