RE:RE:Oil priceNothing like like a bearish eia report out of the blue followed by a no less then a day later statement from Opec about possible falling demand so we better think about inceeasing production to get things going here.................. down! After watching this stuff for the last 4 years Opec is going to let the paper traders do their work for them, ie., bring the price of oil down so they don't have to!
That being said it's looks a lot like the oil correction we had in February, expect Surge to gap down into the $2.20's Monday on light volume (no US market).