“Seriously, is this guy talking to the oil market or what!?”
WTI crude oil not very impressed with OPEC’s decision to extend production cuts
for another 9 months … read this as, “we don’t know WTF is going on, so we’ll play
it safe and keep the status quo” … Vlad agrees, and that’s part of the problem as
well.
Add to today’s bucket of crap range, the fact oil inventories fell less than expected,
which only creates more chaos, and with less demand from world economies cuz
they’re collapsing quicker than a stone in water, and before the 4th Holiday you got
people everywhere saying, “who needs this”? … welcome to oil.
Today’s range so far, less than $1, which pretty much sums up the whole
enchilada … mid 50’s here we are, and mid 50’s most likely to stay … “bon
appetite” oil traders!
Until Friday mi amigos, when I’ll oil blog next … until then mi amigos
… Onward & Upward!!
Have a great day everybody!
-vegas
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