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Oil and Gas Discussion BB
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something tells me big boys using shoulder season to load up. When you see comments like this in the mainstream media: " “U.S.-Russia tensions are increasing, with the U.S.
threatening sanctions on Russia,” Phillip Streible, chief market
strategist at Blue Line Futures, told MarketWatch. “One way Russia could
retaliate is to target shale producers by flooding the market with
oil.”" It makes me suspect that the market is being manipulated. Russia is not about to tank one of its biggest export earners and has other ways of retaliating against America. Its also far more economical for Russia to sell its oil to Europe and the far east than it is to sell it to America. Also Russia does not have a lot of extra pumping capacity. IMO - The big traders know that once Covid is in the rear view mirror (it should be by summer time), then oil demand takes off and the lack of investment over the past 5 years and lack of interest by banks in lending to oil and gas mean that supply will be short and firmly in control of OPEC plus. we all know OPEC plus wants higher prices. and the big traders, they want to maximize profits by taking oil down as far as they can during shoulder season and loading up before it takes off later this spring and summer. JMO |
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