Russia Has Lost Over 90% Of Its European Oil Market ShareWe just had a news release on China cutting down on Oil delivery in Dec and European Refineries claiming that they have too much Oil and now Russia losing 90% on Oil sales all these are extremely bearish for Oil. Maybe tonight Overseas will start another rumor driving Oil higher this time, Oil has been beaten up over a week of selling and has a way to go to recover back to $88, and I'm guessing $83 might be reachable for trading tomorrow. Today opened investors' eyes to the volatility in the Oil market and to some were shocked but this BB had eyes on the possibility of hitting $75. and if everything stayed status-quo Oil could test $65 at years end and today hitting $75 backed my prediction that since June I've called for $75 Oil and I have gotten a lot of hatred towards me for working against pumpers but I was just being honest. The games they play, but tomorrow is going to be better! That's what keeps us going and hopefully, Oil will firm up and Wed Oil rallies on the back of any bullish US Data being released but I have to keep my guard up and lots of dry powder if Oil sells off be a buyer. If Oil hits $83 that could signal the start of a new trend and recovery. It will be great to see Oil trading higher tomorrow because we are overdue for a green day.
Optimism, Pessimism, and realism
Russia Has Lost Over 90% Of Its European Oil Market Share | OilPrice.com