1970Craig wrote: WTI price per barrel is currently 90 cents higher then
Brent
WTI trading at $113.90
Brent trading at 113.00.
It's been more than a dollar , there is serious volatility here ?
So far if you were a trader of stocks and you executed very short cycle trades. Not Day Trades. 1-2 week swings.
You could be up some very serious money because I think since this nonsense in Ukraine Began there had been 3 wild swings in share price, this one being the ending posssibly or close to the ending of this swing.
I feel the swings are in direct coralation with 2 different on going events.
1) the interest rate hikes - inflation scare
2) the broader market tanking , bringing us in oil - energy names among for the ride.
So I think it goes like this. Once a month there raising rates , coming into the fed meetings , the market gets spooked , and the broader market drops aggressively, until the end of the following week of the decision of the fed ( rate hikes ) it's agressive enough , that energy goes along with it , as demand destruction due to recession fears bring about talk of oil supply not being as badly under suplied , due to demand dropping.
Then a week after this roller coaster ride , the news is , we aren't going to hit recession , the fed chair even pipes in the last time , saying his 50 point hike plan isn't going to change or he sees no reason for it to change.
The price of oil recovers off of the highest lows in recent memory , let's say $95 to $100. The stocks rebound and so if this is the case again we should see a little more uptick , another week of steady goes it , then the fed meeting is coming into picture again , and things begin to get squirrelly.
We will see. That's what I have been seeing.
C