Oil Bears got a taste of blood today..You know that Oil has been in trouble this week and what amplifies the negativity today is that this sell-off comes on a day when US Oil Stock showed a draw of -4.6Mil barrels even though US Gasoline Stock had a surplus of 1.3Mil yet the sell-off continues also what makes this concerning is that this week had really no US Data which usually gives Oil free-range so this sell-off is a deeper concern. I said that the markets who were calculating for Rate Cuts were wrong and the FED is on a do-or-die mission to hit 2% so Rate Hikes are coming in the US and Europe and with these 2 powerhouses we will see their economies contract but if a Credit Crunch happens would be throwing gasoline on this sell-off. Remember that Recession trumps all when it comes to Oil so here we are today with Oil dipping to $78 and could see further declines as demand is now being questioned, maybe OPEC will manipulate the market further and I could picture Biden in the washroom with an Oil Tanker pinup climaxing to $70+ Oil after all they have voiced lower Oil is coming and that SPR could see it being refilled if Oil is between $65 - $72 that's still far away. Once Oil dipped below $82 we're back to the same trading range since Dec, $73 - $82, and with this week unwinding it'll be interesting where Oil will be Fri.