Petro reserves or something else - no matter ...
but this short selloff today shows a few things:
~ Oil players are easily spooked after this great run
~ Price of Oil can easily disengage from stock prices
~ NVA a pack leader and bounces back fast, but not immune to downdrafts.
Dems are worried and will be trying *something* to win back and settle the nerves of voter base. They know their political life depends on it.
Assuming the Nuttal Macro picture is correct, they may not be successful mid and longer term, but their political future rests on getting inflation under better control to soothe the worried voters. Hence, in short term, I am betting we see some larger attempts to reign in costs for increasinlgy worried consumers. If not a release of oil reserves,maybe a clandestine stimulus to the US drillers. LOL - wouldn't the Greens love that - lol
I expect some kinds of Hail Marys to stop the voters leaving the tent !
Volatility breeds opportunity :-)