Oil Is No Longer Trading Like a Market
https://oilprice.com/Energy/Crude-Oil/Oil-Is-No-Longer-Trading-Like-a-Market.html
Posted by ProdoRock
Oil Is No Longer Trading Like a Market
https://oilprice.com/Energy/Crude-Oil/Oil-Is-No-Longer-Trading-Like-a-Market.html
Posted by ProdoRock
3 Comments
Yup thanks to all the shorts.
But today, the shorts come due.
I think one of the reason why market is downplaying the Oil shortage is huge SPR reserves. china alone has 1.2 billion barrels of reserves, twice the amount of supply that is disrupted. Japan has enough reserves for 250 days of petroleum usage. these reserves might be the reason for lower oil prices.
>It isn’t a global market anymore. The market is a screw Asian, Australian people and anyone else dependent on the Middle East. The US is well supplied, so they don’t want to raise the prices to where the shortages won’t exist. The US is at economic war with the countries that are experiencing the shortages.
https://old.reddit.com/r/oil/comments/1sosdpe/breaking_iranian_military_announces_closure_of/ogwfwo7/