RE:WHY OIL GOT "HAMMERED" TODAY
It's funny how you hide whenever oil is up and come out in full force on a down day. Looking forward to you going back into your cave. One main stat in that post which people should be focusing on is US production down 1M bpd year over year and has declined 22 times in the past 23 weeks. Growing demand + decreasing supply = higher price. The first thing you learn in economics. Still, you and others think the bottom is going to drop out of oil again! LOL. Ain't going to happen. 6 consecutive weekly US inventory draws = undersupplied market. It looks as though Nigeria production is continuing to be disrupted and will decline even more. Fundamentals can only be held back for so long. Brexit and global market fears have pulled it back but still haven't brought it under $46. It's bounced off $46 several times now. This is where you buy and where shorts should cover. But anybody shorting oil right now can't be the brightest so who knows what they will do.