RE:RE:RE:RE:US inflation 2.2% Yesterday the Saudi oil minister was quoted saying the price of crude could actually go to the 50's... that's right down. This was later claimed false. Sounds like manipulation. With tensions rising in the Middle East and Israel yet to respond to Iran's attack, it would be extremely odd for oil to go anywhere but up.
Rising oil prices has the potential to mess with inflation again. Add that to the ongoing war in Ukraine, a US election, rate uncertainty, unemployment and now a port strike. Lots of balls in the air and a market priced for perfection.
mouserman wrote: Some traders appear to be betting on oil prices running up to $100 a barrel from a recent $73. Trading in call options tied to the $1.4 billion U.S. Oil Fund surged to the highest level in more than two years this week, according to Cboe Global Markets data. Such trades confer the right to buy shares at a specific price, known as a strike, by a stated date. Some of the most popular trades in recent sessions have been tied to the fund jumping to $80 or $85.