MEG Energy Corp MEGEF

Biden getting ready to fill SPR at 70

[cashtango00]

old senile man reading the oil market better then Nuttall.  LOL

[Paray99]

Yes, US is very desperate now to get it filled, so the price pull down. Once they are filled, they will tell that there is no rate hike. Europe is not supporting these rate hikes as they have huge crisis now. US economy will crash if there are more hikes. These are all big drama and US is pressed to do this, as the stock markets are still alive....  They really want to see that the markets

[cashtango00]

Sometimes you need to look at all possibilities, not just the ones that match your positional bias.  It's nice to believe the US is pulling oil down from 100 to 75 and once they are done, the price will explode, it's just not very accurate.....or possible.  The physical demand for crude has weakened substantially.  Evidence of that is everywhere from the futures market to

[Diligent2]

If that were true Opec+ would have cut

[Re1ndeer2]

Looks like Russian Oil is going to subsitize SPR refill....

[cashtango00]

YEP.  The US is doing a great job of funding both sides of that war.

[Re1ndeer2]

It's a shell game,  and Putin's oil will indirectly refill SPR cheaply.....

[ratsnake220]

if you google Paul Sankey Research he has lots of weekly interview stuff....he is a oil futures trader.....he describes this market as sticky....hard to evaluate but is sticking to his call of 120 oil by driving season mid May of 2023....he has heard lots of Russian tankers going all over the place.....i went to underweiight from overweight......after i viewed some of Sankeys analysi.....the drift

[cantlose22]

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