RE:RE:RE:RE:WTI priceInvestment banks like Goldman Sach and JP Morgan create and bs and distort facts to create panic and even this whole crisis. Data hasnt made sense.
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Gas demand currently sits at 8.93 million b/d, which is lower than last year’s rate of 9.11 million b/d at the end of June." USA gas demand is lower then covid 2021 numbers.
Consiracy is in them pumping oil to 120 with help of OPEC to help Russia continue war on Ukraine.
I have said this since March, OPEC is helping Russia but that is not sustinable as world economies are so bad that over time reality would set in.
Some of these investment bank tell public 180 dollar oil target while shorting in bank ground or selling their long positions.
Big hedge funds were dumping oil last week.
Hendrick3 wrote: I may be grasping at straws but the plunge is completely out of sync with the reality of an energy crisis. So I look at it like a murder scene (certainly a lot of blood). Who has the motive? Obviously the Biden administration has the motive. I also suspect that the fed could take their massive resources to create a short blitz in the paper markets knowing that once triggered, the computer and momentum trading would carry it from there. So it's a conspiracy theory still at this stage but I don't know how else to explain the irrationality.
As for OBE, it's now trading under 2 x FFO which is simply ridiculous. Nothing changed in my bullishness for the sector or the stock. Looking forward to the refinance announcement due in the next 10 days.