RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:cj is falling below $6,50Quinte clearly you can't follow the conversation. I am quoting the rationale that the market is saying about demand not me, ie Chinese demand is lower than expected but then ingnores oil stocks and sells off. I am saying so what if GDP is not 5.1% but it is still fricken +4.5% growth, that cannot correspond to oil demand catering. Try to keep up with the conversation, you are coming across as confused at best.
Below is what Eric Nuttal says about the oil markets, Sept 5th on BNN.
Global oil inventories are at record lows, the decline to oil prices is mispriced and overdone causing too much volatility. The financial market is 50 times the physical market. Pretty much saying the same as I am.
https://www.bnnbloomberg.ca/video/shows/trading-day/2024/09/05/opec-has-deal-to-pause-oil-hike-for-2-months/
This is the most important election in the history of the US we are told and that democracy is on the line and/or on the ballot. That's what I have been hearing. If so then anything is fair game if it's in the interest of freedom, and to preserve democracy.
I'm thinking the same as what Eric is saying, the oil market should not sell off if there is record low inventories and China's GDP is +4.5%. So the oil market is selling off just before the critical election, that seem just a bit too convenient.