“It seems like oil has been saying this for years!”
Mostly a dead day, with little reaction to NFP … yesterday’s ISM services report
had a classic panic oil sell short term bottom … we’ll see if it holds next week
… until world economic stats stop dropping and things stabilize or growth
returns, don’t expect rallies in oil to go very far … unless there is another Saudi
Arabia attack or supplies are threatened by Iran, price looks to go into the 40’s
… only that geopolitical uncertainty is supporting price at the moment.
In other words, nothing new under the sun for oil … until the Sunday blog update
mi amigos … Onward & Upward!!
Have a great weekend everybody!
-vegas
No comments:
Post a Comment