RE:RE:Illogical, illogical please explain why oil is not moving??? 36 more days til US election, gotta keep those petro price down
other industrial commodity gold, silver, copper, aluminum, nickel are up in 2024 due to USD dropping
China implemented stimulus
loss of libyan oil production
yet oil still went down
downwithdotcom1 wrote: confirmation of "i told you so"...as said before, its those criminal shotcallers at work...supply/demand fundamentals are not setting the price right now...see below
"Hedge funds sold ie shorted U.S. energy company stocks at the fastest pace in five years and the sector was the most sold on Goldman Sachs’ prime brokerage trading desk last week, the bank said in a note sent to clients on Friday and seen by Reuters on Monday. The proportion of short bets outpaced long positions roughly six to one, the bank note said. Last week’s short selling in the sector was the largest in over five years, it said. While selling last week reached a height, hedge funds had been dumping and shorting energy stocks for five straight weeks."