US producers are going to war with OPEC. There are many companies that are profitable at $30/barrel in the states. They're ramping up production. DXY is still trending up as well.
(I) Supply and Demand.
Demand shrinking
Supply increasing at a cheaper rate
=
Price drop.
GL :)
(I) Supply and Demand.
Demand shrinking
Supply increasing at a cheaper rate
=
Price drop.
GL :)
Comment:
Opening shorts today, we're going to move to $45 is the plan.
Failed Bounce
Iran narrative falling apart (CIA spies most likely to be tied to oil tanker explosions)
UK Ships were escorted by tug boats??
USA keeps increasing production.