"Be fearful when others are greedy" - Warren Buffet
This 30% price jump has no correlation to the price of oil nor its future. From what i'm seeing, everyone should be terrified right now. One of the biggest oil gluts ever is impending on this market. From my research, these gluts typically take a few months to noticeably effect price. In the long run, oil will be going down. Whether if you choose to believe the optimism trump injected into the market, Oil will follow this supply glut trend.
I think the its hilarious how this all backfired on trump. Days after making his twitter statement, Saudi and Russian officials began trading blows at each other once again. The irony in this situation further goes on with trumps involvement. He clearly knows production cuts of any significant magnitude from the united states is not with his control, which is why he has proposed tarrifs. Keeping it short, tarrifs will do essentially nothing in the long run. It will also further hurt relations between parties in this opec deal on Thursday.
Play with the bull, get mulled by the bear.
This 30% price jump has no correlation to the price of oil nor its future. From what i'm seeing, everyone should be terrified right now. One of the biggest oil gluts ever is impending on this market. From my research, these gluts typically take a few months to noticeably effect price. In the long run, oil will be going down. Whether if you choose to believe the optimism trump injected into the market, Oil will follow this supply glut trend.
I think the its hilarious how this all backfired on trump. Days after making his twitter statement, Saudi and Russian officials began trading blows at each other once again. The irony in this situation further goes on with trumps involvement. He clearly knows production cuts of any significant magnitude from the united states is not with his control, which is why he has proposed tarrifs. Keeping it short, tarrifs will do essentially nothing in the long run. It will also further hurt relations between parties in this opec deal on Thursday.
Play with the bull, get mulled by the bear.
Comment:
I just wanted to throw in my own opinion for the sake of isolation induced boredom. I hope we get an L shaped recovery curve. I hope oil goes down and stays down for a foreseeable future; you should too. Let me point out that I have relations in Alberta. This oil market has built us up and ripped us apart too many times. I believe the world and economy will benefit in the long run if oil crashed. Yes we will always have a demand for oil, but how would cartels come together to control renewable resources? Id be hard pressed to find an answer to that.