Remember Morse from Citi Bank calling $60 a month ago?All the shorts and bears used his short pump and talk as their story fear mongering in the media. Well you will be VERY interested in how that turned out for Citi and Morse...
Too all those who say the big guys manipulating and shorting never get burned you will enjoy this article from today.
How many millions lost.....
https://www.barrons.com/articles/prominent-oil-bear-throws-in-the-towel-others-are-ramping-up-short-bets-51646247617 "Prominent Oil Bear Throws In the Towel"
One of Wall Street’s only bears on the oil market decided to “step aside” on Wednesday, saying that Russia’s invasion of Ukraine has made a bet against oil prices too dicey.
Citigroup analysts predicted last month that Brent oil prices would fall 18% to 20% by the second half of the year, and established a short position on December Brent futures, recommending that investors sell Brent at $82.39 a barrel. They wrote that they had “high confidence” in the trade. The stop loss on the trade was $92, a level that it crossed on Wednesday as Brent futures soared to new highs. The trade lost 11.5%.