RE:RE:RE:RE:Opec plus..You say " much of the world would prefer a Harris victory". I am at odds with this statement. If the media were neutral the dems(liberals) would be the last party most people would vote for. While many including myself do not like the leader of the other party (Trump) I would still much prefer the politics of that party (conservative).
The rest of your statement I 100% agree with.
riski wrote: I have been surprised at how well the price of oil has held up considering what is at stake for the US and the world. Much of the world would prefer a Harris victory and if that means low oil prices to get there, they will do their part. I think this is the biggest thing that keeps Iran from retaliating against Israel/defending Palestine.
We should expect volatility heading into November, but I will take the prices we have enjoyed this summer. I was expecting much worse. The Us has many tools at its disposal to manipulate price. We are seeing that with the weekly EIA estimates which don't come close to matching the official monthly data published several months after the fact. By some measures, demand was very high this summer, but official weekly data was muted.
https://oilprice.com/Energy/Energy-General/Conflicting-EIA-Fuel-Demand-Data-Confuses-Oil-Market-Observers.amp.html
JohnnyDoe wrote: dandu1924 wrote: BUT EVERTHING does not last long just half day or if we are lucky just one day and after that, still the same pattern, down and fall as a rock.
There's an American election in 10 weeks. Low oil is good for incumbent governments. Imo everything and anything is in play to try to keep oil prices lower.
Is a Harris government good for Saudis? What might they be offered to bring production back on line. What about the Russians? What's in their interest?
Is Trump "I can solve the war in 24 hours in their interest?"
Once we get on the other side of this election we'll likely see global supplies having more influence on oil prices