As predicted, the speculative frenzy in oil continues as it is currently trading over $132. This confirms my sense that the approaching Mercury station in tight aspect to Rahu is fueling this price spiral. A key additional element is that this stationing Mercury is sitting just a few degrees from the Ascendant of the Oil Futures chart. Last week, I had thought that the Mars square to the Moon-Saturn would force prices down, but it's clear that this Mercury-Rahu pattern is much stronger. With Mercury still going forward until Monday, prices should continue rising. I would not rule out $140 at this point.
Prices may decline after Monday when Mercury goes retrograde, but even there it's important to remember that everything else will still be intact. It will still be under the aspect of Rahu for another week, and it will still conjoin the natal ascendant of the futures chart. This suggest that even if the decline happens, it may not last. As a pure guess, I think we could it fall back $10 from whatever high it ends up making this week But I can see that another mini-rally is possible by the second week of June as tr Sun and Venus conjoin the late Taurus ascendant.
All in all, I don't see oil prices falling back sharply in the coming three weeks. By the second half of June, we may start to see some sanity again. I expect prices to fall gradually back down to earth through July and early August.
