RE:RE:RE:RE:Big drop?Totally agree with that.
There's your game plan!
One more thing I should point out is that last week's extreme EIA excessive gasoline build last week of 6mm bbl, does not correspond with Gas Buddy data, which shows a few hundred K more per day on the demand side.
It could have been a very low implied demand as retailers delayed ordering fuel from wholesalers during the recent price drop, but they have by now which would reverse the build.
If EIA gasoline stock report corrects to show higher demand, it leads to higher cracks, which mean a higher oil price.
Stay tuned for Thursday's delayed EIA report due at 11AM EST due to Monday's Columbus day holiday, that few recognize.
liljohnnyjoke wrote: I doubt many will want to risk being short oil going into this weekend.
On the other hand if oil runs back up before the weekend just on risk and nothing BIG happens then oil price likely drops significantly come Monday.