RE:RE:RE:RE:RE:RE:world oil down after Putin agrees to talkTrue dat. OPEC+ can't meet its current quotas with or without Russia.
Just having a quick look at the board and the shorties must be covering as oil has ceased its drop and ARX is rising. I can't imagine what the catalyst might be otherwise.
Trapped wrote: If he attacks, Russia will become the new North Korea. He really doesn't want that and it's a shame but Nordstream is being used as a weapon against European energy security.
Of course all of this is a distraction from the real issue when it comes to oil, which will be going to $100 in the near term regardless of the outcome. The high price will drive increased production, but incremental barrels won't be hitting the market for months if not much longer in some cases due to a lack of investment and labour.
It may not stay at that level but the real near-term move (Russia head-fake aside) is upward for sure IMHO.
Quintessential1 wrote: Oil doesn't seem to come down as much as it goes up while he's playing these games so let the big baby saber rattle.
But no way should they approve Nordstream 2 as long as Russia continues to be an oligarchy.
Any way good for oil good for us,
GLTA Longs
1condor wrote: Spos01...Wednesday was a date for an attack being thrown around a lot in the media yesterday. I suspect if this attack does not occur then oil will take another dive (maybe driving it back down around 85?). Still think Putin is playing a game here (a dangerous one) but as you say we should know soon enough.