The David Lin Report · Friday, September 18, 2026
Todd Horwitz explains that current oil prices are largely dictated by a 'fear trade' and that the forward curve indicates lower prices in the future. He points to the difference between current futures and those for next September as evidence of this expectation.
“Well, what brings oil down? It's demand is not there. B, we have a glut of oil. C, you have basically what we call a fear trade. Again, we have to look out, what we call the forward curve. And if you go out and look at oil month by month, it's cheaper.”
“So that is telling you that all we have here now is a fear trade. And, uh, certainly the fear could last longer.”