Suncor Energy Inc T.SU

Quid Pro Quo

[MigraineCall]

Quid pro quo:
MBS returns Brandon's favor of granting him immunity for the Kashogi murder, and jawbones the idea to add .5M bbls to OPEC production, partially reversing the 2M cut. Politics.

Like always, it is up the stairs, then out the window.

Is your stomach churning today?
Crazy... Let it play out.
WTI now at double bottom. Looking for a reversal.

This is when you put some more of that dry powder you have been keeping in reserve back to work.

We know the bullish longer term oil fundamentals, here are some bearish ones driving markets:

Slow week, little volume, traders staying away, = illiquid markets.
Goldman lowers WTi price target by $10 for 2023.
Dec paper oil contract expiring today.
US Thanksgiving Thursday, short week. 
China Covid spreading, threatening recovery in energy consumption.
US$ up .75%
Remember last year, oil dropped $10 during this time period, some may be front running it now not to get caught out.



Will see what OPEC really does on Dec 4, if this new lower oil price level stays down for a while.

[meritmat]

And read that is false. So back up oil goes 

[MigraineCall]

Yeah, that story really caused my spidey senses to tingle. And up oil goes...  LOL! Hope that dry powder came in handy. Yet the China Covid story remains. People there in long lockdowns cracking under the pressure and dying from jumping out of buildings, while only now having the first Covid death. China markets all down with the zero Covid insanity. Something more, the SPR oil releases

[autofocus111]

Algo flash traders got their pound of flesh on 'headline news' pixels.

[yureja22]

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