A lot of misinformation posted hereI realise that shareholders are desperate to not lose money, but posting misleading and deliberately false information helps no one in the long run.
It appears that Netanyahoo actually used his head, and limited their response to Iran's missile barrage, and that is why the price of oil is down this morning.
Yes, the futures traders over-reacted on the initial news of an attack, as they always do, but common sense takes over once the dust has settled, as it always does.
The market knows that OPEC+ has been holding back production, and that excess supply will always cap any meaningful rallies. OPEC seems happy with oil in the recent trading range, so those calling for big spikes in the price are just trying to deceive others, probably so they can dump their traders.
But, at the same time, no one should be complaining about where the oil price is today, as WCSB producers are making good money at these levels, and we do have the Transmountain Pipeline coming on line.
Just a few words of common sense from an old O&G investor. Do with it what you like.