The premium for prompt oil is down to 20 cents.
That means backwardation becomes contango, rising private sector storage.
There simply is insufficient refinery capacity to utilize the current level of global production.
This is the definition of a production glut with no OPEC discipline available.
Prices will decline fir crude with or without an agreement between US and Iran
Not a dick measuring contest.
Just a difference of incentives.
Trump Tower was built privately.
Private capital has to earn its keep and people actually have to choose to stay there, buy a condo, or lease space.
Bad design or function gets punished fast with empty rooms, lost revenue, and real pain for the builder.
Thatโs why you get something tall, useful, and still valuable decades later.
The Obama library is a legacy project with roughly the same money.
Foundations, donors, and public land perks funded it. The people writing the big checks arenโt the daily users, and thereโs no monthly rent test forcing constant improvement.
And the result is a lot of โiconicโ, whatever that means, and not much everyday value. (And they made it ugly)
The TLDR is that free markets donโt promise perfection, but they do make waste expensive and reward what people voluntarily pay for.
Different incentives, different buildings.
@BeardoTrader Made a list of SPDR sectors with anchored VWAP from Fed day last Wed. Only 5 of 13 are above the line, in order of strength are XLV, XLU, XLP, XLRE, and XLI.
@SRxTrades On tradingview: qqq/spy, qqq/dia, etc. show Nasdaq strength vs. other indexes. Also, a list of the 13 SPDR sector ETFs help. The only 5 that are above Anchored VWAP (from Fed meeting last Wed 17 Jun), in order of strength; XLV, XLU, XLP, XLRE, XLI. @PolarityRadio
@GrantCardone Bro Bitcoin has nothing but name recognition over the thousands of other crypto "currencies" that get created every week. Trash. Keep it real.