RE:Perfect TimingI suspect a lot of this is due to shorting - that was what Biden was counting on....a whole whack of shorting to trigger stop loss selling. It's just another way he is working at destroying the "bad" petroleum industry......put them all ot of business as soon as possible preferably through bankruptcy and if it huts other countries economies then so much the better ....the only question is how does he plan on everyone heating their homes in the short term?? No one has really answered that question...then again, the top 1%ers will just go south and live on their estates.
Talking head have now shifted from "oil will hit $100.00" to "oil is headed sub 50" - maybe even by the end of the day if Biden gets his way.
Sigh
GLTA
Rusty