RE:Brent Breaks $78, WTI at $73.42this is great!!! but also be wary...OIL is the most politicized commodity out there and those option/future traders will be there to make fast bucks by driving the price down (to support their massive short positions as already discussed). Particular concerns:
next FED meeting: begins on July 25 and will end with a policy statement on July 26 at 2 pm Eastern. Oil has dropped $10+ more than once on as little as 0.25% rate increase and/or neg. commentary...
a nuclear deal (but not a deal) with IRAN. Biden apparently will do a deal with the devil himself to keep oil low going into the election. Its no secret now, talks are taking place and a deal could come out of no-where.
This is why i like a few SIDE trades if possible to support core holdings. To each their own, all profits good. ..Don't kill the messenger. dwdc