Post by
Cobalt on Aug 30, 2022 11:39am
Love the timing
Sell off Oil into the Sept OPEC , test OPEC and see what they do , love it
Comment by
ratsnake220 on Aug 30, 2022 12:06pm
clearly a computer selloff....twice it tested the 200 day average and then reversed......The Irainian deal will not really impact the world in oil shocrtage.....and Saudis will cut supply .....But what now if we are trapped in a market that is crooked
Comment by
Cobalt on Aug 30, 2022 12:24pm
Ya nothing but algo right now , lowest volume in the markets for the year yesterday and till after labor day
Comment by
Moemoney42 on Aug 30, 2022 12:22pm
Yup a perfect back drop to justify the production cuts.. ;-) When the smoke and mirrors clear we'll be back to a run up to $100 IMHO..
Comment by
masfortuna on Aug 30, 2022 12:28pm
Brent is trading at $99 as I write this and wti is hovering at the $91-$92 level. You would think with most of my energy plays down 6- 7% that oil had hit $75. Also most US oil producers are down 2%'ish with higher book values and PEs than their Canadian counterparts. Just another weird day in the O&G markets.