Global Biomass and renewable scams now hitting on oil price! The main agenda for the newsmakers now is to hit down the oil price. So, you will hear about biomass more on the media these days. Also, this morning I saw that EIA telling renewables will replace use of coal in 2 years.
All these news have immediate effects on oil price, because there are bears working hard on this too. Shorts will do everything possible to get back their money before oil rises again. So, as I told before, patience is crucial here. All the weak hands will be shaken down this week.