RE:RE:RE:RE:Oil PriceThat may be some of it... however the speculation about Opec increases was being talked about in the media almost a week ago. Perhaps a factor, however not the sole reason. Still looks to me that the powers that be want oil lower to help the democrats win.
Starting next week we will see more traders, analysts and algorithm programmers back at work from summer break. Lots of anxiety building in the media about the economy, not to mention truth bombs being dropped daily on social media about more and more government/corporate corruption. I don't think we've yet seen the reprecussions of the Zuckerberg confession. Media is doing what they can to downplay and obfuscate, however even normies are starting to talk about it.
I think we're on the cusp of a major 2009 like correction. Not sure though if it happens before or after the November election. I'm sitting on the sidelines with majority in cash as my risk indicators are off the charts right now..
jleer42 wrote: It's because there has been some confirmation OPEC+ is still bringing back barrels to the market in Oct.
https://www.reuters.com/business/energy/opec-likely-proceed-with-planned-output-hike-october-sources-say-2024-08-30/