Post by
smallcaptdr on Dec 28, 2022 10:48pm
China COVID pulls Oil down
I posted earlier today that airports could start restricting flights from China and it's happening this will tarnish anything that China has promised in the past about returning to glory isn't happening and I have been saying this since China changed quarantine times from 7 days to 3 days in the summer that it would cause COVID to run out of control and here we are China is quickly turning into the forbidden land, I have zero faith in China becoming an Oil guzzling country anytime soon and I feel that it will keep Oil down.
WTI crude futures fell toward $78 per barrel on Thursday, extending losses from the previous session on mounting fears that the end of China’s zero-Covid policy could lead to a surge in cases across the globe and trigger worldwide restrictions. The US announced that it will require air passengers from China to show a negative virus test, while Italy said it would test arrivals from the Asian nation and reported that almost half of passengers on two flights from China to Milan tested positive. The prospect of further monetary tightening and a possible recession next year also continued to grip commodity markets.
Comment by
Franman184 on Dec 29, 2022 7:43am
So far those test are mainly Omicron variant. Unless a new variant is detected for which most have not been vacinated for, the world will continie to open up and that includes China. Covid is the new common cold. Do what you need to protect yourself and not if that is your mind set.
Comment by
mofwmofw on Dec 29, 2022 9:36am
Right on schedual, oil up overnight and then markets open over here and oil is shorted and pretty much capitulates. So transparent and pretty much goes straight down just before 9:30. And then we are supposed to be living in a democratic society, with these markets along with stocks so badly manipulated. Wow unbelievable !
Comment by
TheWokeLemming on Dec 29, 2022 10:46am
This is my biggest take away from 2022. There is no free market when it comes to oil. It's all manipulated by the US government and their media partners. My opinion only.
Comment by
TheHumbleTrader on Dec 29, 2022 5:57pm
Solid conclusion.Oil trading on fake news and lies. The worth of this commodity is determined by fear-mongers
Comment by
David01montreal on Dec 29, 2022 12:35pm
This post has been removed in accordance with Community Policy
Comment by
dandu1924 on Dec 29, 2022 9:47am
Yes, you are right Franman, I am just back 2 weeks ago a trip in Mexico, I am full vaccined Covid-19 and influenza, a lot of people on the plane had a sign of some cold and flu, and I am OK, the vacinne works. So where is the panic again, just an another attempt of manipulation of Trudope and Biden with the medias.