With the timestamp - and 203 reads...i sometimes call thingsThis is not meant as a brag by any means...and as of right now, it looks like we will hit $1.10 again today...
Best to all, and a great weekend in case I don't catch you later
November 20, 2021 - 02:09 PM
203 Reads
Post# 34149588
RE:RE:Oil oil time to load up
I'll have to disagree. the US only has 30 days of Reserve remaining in their SPR - as they've been reducing already for months - my posts on WCP are there conforming the numbers if you want to go take a look.
Asfor the 100m barrels - that is an international release, and "only" China is playing at this point, and they and the US do not play well together
Biden has already cancelled the biggest pipeline that would reduce prices - anything else is "games", and will have very very limited short term impact and will have the opposite impact long term.
And lest people forget...this past week was the monthly turnover of contracts - and it doesn't take anything to see that was the reason for the recent changes in price - contract expirynand rollover...
... And on the above point of the monthly rollover- the fact that 'everyone' is once again playing contracts into the final days and hours of trading.... That is so BULLISH for oil, you might want to pull up the knickers and run ... Before the bull catches you in the rear end
As for "the Nuttal effect" of ATH volatility... Won't be the first time,and won't be the last, $1.10 reentry for me. And the next time ATH 'runs' we'll be hitting $2
Cheers...happy weekend,,.pour your drink of choice...we go again Monday