Suncor Energy Inc T.SU

US and Iran Oil Deal

[MigraineCall]

Breaking now, and yet unconfirmed is that US and Iran have agreed to a return of Iranian oil.

Oil sells off due to algos.

This won't bring a single new drop of oil to the market, as Iran is already supplying all it can produce. It's floating storage is gone.

On this news, I'm going long with a lot of margin. HOU for a trade.

[matt2018]

good luck with it migraine..... I agree, somethings not right here. Crude oil stocks Down, Rig counts Down, Oil price Down. Its been a few weeks of this now.  Why are there no Oil buyers? Is Powell scaring them?  Is it China slowdown and their cratering property values? Somethings gotta give sooner or later. SU wants to run but oil price cant hold $80, regardless of the strong

[MigraineCall]

Thanks Matt. Sold all of HOU when WTI was at $79.82, before the 1:30PM close. +$9K on speculative US Iran oil deal news, that we know won't change the market supply. Not bad for an hour's work, just a trade. HO and Gasoline are on an absolute rip today, supporting crude. Oil stocks got oversold lately and this retracement is an opportunity. Rig counts are dropping, especially in the

[matt2018]

Very nice hit Migraine!  I saw how fast that V happened.  I was too slow.