Post by
matt2018 on Dec 01, 2023 9:29pm
Oil's Deep Dive
althoigh the opec announced new cuts were not that deep, they were still meaningful plus the extention of the voluntary cuts should have lent decent support to oil price.
I dont believe even opec expected the price to rise much but certainly there was enough there to hold it firm or go up a little.
Today the price was moving exactly along that way till early afternoon, then it took a deep dive rather quickley.
Seemed to be an orchestrated move as any attempt to bring it back up was met with continued resistance. Very odd trading action as to speed of the drop.
Comment by
Marty47 on Dec 02, 2023 10:53am
Iran says an Israeli strike in Syria killed two Revolutionary Guard members while on advisory mission...... Oil will be drive up with more and more war related events ......Iran will sting the USA more and more until something bad happened