RE:RE:RE:RE:RE:RE:cj is falling below $6,50The China link just proves their econonmy rose by 4.5%, but just not as high as expected... which was 5.1% or a measly 0.6% difference? So +4.5% gain is growth or is my math wrong or does that imply oil demand falling through the floor. Ya sure it is ;). For any other metric, like realestate that has been ongoing for a long time, without any effect on oil demand.
As for the US jobs report, same thing, not as high as expected.
But hey check this out, its from the offical website of the US Gov which shows GDP increased from 1.4% in the first quarter to 3.0% in the second. And the chart shows Q2/2024 is higher than Q1& 2/2023...
https://www.bea.gov/data/gdp/gross-domestic-product
So you think the Fed will step in and do what is unusual and cut interest rates a 1/2 point then with GDP at +3%? So positive GDP, sharply declining oil stock can't support oil but a 1/2 cut will. How about $68 oil, wink, wink. I think you just proved my point and that is the markets are being manipulated, ingnoring most data, that I have mentioned already, that suggests worst-case a soft landing.