Crude going ballistic

TVC:USOIL   CFDs on WTI Crude Oil
The oil market seems to be shrugging off the omi-cron fear trade. This is for good reason with OPEC+ cartel causing a spike in fear. The possibility of war whether it be Taiwan or Ukraine. The market LOVES the idea of a war.

Catalyst #1) Satellite images show Russia still building up forces near Ukraine - Reuters
Catalyst #2) US and Japan draw up joint military plan in case of Taiwan emergency – The Guardian
Catalyst #3) The International Energy Agency (IEA) said in its December oil market report that OPEC+ missed its production targets by 650,000 barrels per day (bpd) last month, compared with 730,000 bpd in October. - Reuters

Non-factor: DOE Awards Second Strategic Petroleum Reserve Exchange to Bolster Fuel Supply Chain.


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