WTI is off to a roaring start, higher by 12% to $61. Brent is up 13.5% to 68.2. Also, gold is up nearly 1%, which is both notable and exceptional.
The knee-jerk reaction tomorrow will be to sell crude short — because you’re all fucking geniuses and able to time tops and bottoms. Truth is, no one knows what the fuck is going on, other than uncertainty abounds. This is not an environment to fade crude. This is what short squeezes are made from.
Dow futs are -150 — but I doubt it’ll last. I’ll be trading like a motherfucker tomorrow inside Exodus.
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Agreed. This going to linger. So they say Iran hawk Bolten leaving caused oil to drop, with the expectation that the market would get a jolt of supply. Total nonsense. But this small attack is going o linger on markets for awhile on psychology alone. A shot-term 5% drop in supply is pretty huge. But the oh-shit factor of this isn’t going to go away in short order.
This was the cherry on top. Serve up and distract. Mustached man had this in place long before. Who was short cl?
No. Oil did not sell off last week because of expectations of a jolt of supply. Yeesh.
It sold off because the firing of Bolton was seen as a sign of hope that, just maybe, the war-with-Iran tools in our government were losing some juice – lessening the long-existing ‘oh shit’ factor.
The CIA at work this weekend.
..or Mossad.
12% – 11% – 10% – 9% – 8% and falling.
Goldman Sachs: “Hey Don, I just got a call from my brother at ARAMCO. Saud’s are 100% back on line.”
– MSM unquestioning in interviews with administration mouthpieces saying “bad actor Iran did it”
– We even had the emergence of a Cheney (Liz) talking-up war with Iran on Sunday shows
– US president saying “locked and loaded” and just waiting for word from Saudi
– US president saying he is considering signing onto Lindsy Graham’s bill that puts a foreign leader (Netanyahu) in charge of our going to war.
Markets flatish.
thanks for the heads up on the Graham bill. That is the scariest shit I’ve seen in a while:
https://www.silverdoctors.com/headlines/world-news/lindsey-grahams-blank-check-why-a-defense-agreement-with-israel-would-be-a-disaster-for-americans/
http://www.cc.com/video-clips/c4krrb/key-and-peele-fighting-meegan-s-battles