The EIA just came out with a report that said wee enjoyed a build of 7.56 million barrels of oil, FOR THE WEEK. Consensus was for 2.2 mill.
We all accept this news as par for the course. Which fucking course are you living on? In my world, I can’t fathom who is collecting all of this oil, and why?
Clearly demand isn’t this erratic, so it means the oil was over-supplied. Well…why?
I’ll sit here and wait for answers.
In the meantime, stocks are up. My BIDU is looking good.
If you enjoy the content at iBankCoin, please follow us on Twitter
Foreseen rise in interest rate hike?
My long position taken yesterday is not looking good. Be that as it may, I maintain my call for higher oil over the next two weeks.
And the numbers are for sale. Nobody knows where this oil is. EIA is based in Paris. As in France. This number was meant to smash oil because someone wants to get really long.
Saudi. As mentioned before is not following caps, over producing. This is to punish iran. Not my thoughts but an oil exec who I met on a flight from cal. So this might not be the only reason or even correct, but we have a glut.
+1
i hate saudis
and they hate U$.
The recent leg down in emerging and frontier markets shows peripheral markets have been turning down. So they’re doing the only thing they know how to do to get out of it… producing commodities and pumping out oil.
The Saudis are on the wrong side of history.
third world broke azz tards have no other source of income
That would be the case at first appearances.
In all probability though, the bastards likely own half of our markets through nefarious under the table means.
my YHOO + GOOG are looking better
I wish $SHAK would get some steam! Just averaging down for now.
SHAK will bottom at 20, remember that craziness with LOCO. stupid stuff