RE:RE:RE:RE:Zechner's CommentsProbably another week of volatility as US moves more ships and planes on station in the middle east. I think this will create a sense of stability and cause the price of oil to fall as the threat of war diminishes.
In the interim, media is pumping about a USA nuclear missle sub in the area. This is the same playbook tactic Britain used during the Falkland war. It was enough of a threat to dimish Argentina's military activity (even though the sub hadn't left British waters). This gave the British battlegroup time to arrive while sewing fear in the Argentina government/military through fear of a sub lurking nearby.
So far it's been a measured response from Iran, likely to save face. As the battlegroup approaches I expect to see Iran back off hostilities. Depending what happens with the US elections in November, I foresee war if Harris wins or a return to stability if Trump.
Moemoney42 wrote: Thanks for the article dotcom.. yup, something was certainly playing havoc with this sector.. what makes me wonder.. is its usually a matter of time before that trade reverses, as these "traders" only make $ when the market swings.. one would think you can only short for so long without data to support the short.. I'm thinking the US election is part of the reason for the disconnect "short term"... no pun intended.. LOL..