@investinguab Has your view changed with Brent now firmly below $90 for the first time since April?
I expect not, but curious how you view the past week/month of price action
@haroldgrosser72@calvinfroedge Yeahhh I really learned my lesson this past year. Made good (but not great tbh) returns on PM last year and despite knowing how manipulated commodities are, figured they wouldnt be able to do it with oil, the lifeblood of the global economy in an energy crisis.
Boy was I wrong.
@gbrew24 The deal will have to be wildly in Iran's favor though since they have all the leverage in the world.
The deal Iranian media keep spreading is one they would likely be willing to accept, but it's absolutely toxic for the administration so they keep rejecting it outright
@CrudeCO77@OilandEnergy And that's if the US can continue to escort these ships every night without major incident, which seems unlikely to be honest.
The latest flare up happened bc an Apache providing air cover got downed in the process. What happens if US servicemen die doing this mission?
@Mills_J3@RKelanic Agreed, 7m is quite literally unbelievable.
2-4m would make sense if they have 15-20 smaller ships running the gauntlet at night, but 7m would 100% require VLCCs
@theworststink@BrettErickson28 Bessent talks out of both sides of his mouth every time he speaks, his words are utterly meaningless same as every other member of this administration
@PandaDaytona@OilHeadlineNews If you bought AAL, a company *negatively* impacted by high energy prices, and XOM, a company that prints money with high energy prices, the day that the war began, you would have made money with AAL and lost money with XOM.
That's how fucked the market is right now
@cym27s Weird that the PM of Pakistan put out a post earlier claiming that the deal was already 100% "finalized" huh?
It's almost like they're doing everything possible to manipulate prices lower
@AllVentured@Rory_Johnston Wouldn't be surprised if an actual honest to god signed deal is actually a buy the news type event after months of sell the rumor
@Rory_Johnston It seems like a floor has been found, weve now had almost a full month of incessant "peace deal imminent" headlines that drove WTI from $108 on May 18 to about $84 today.
Not much lower it can go imo and an actual signed deal may very well spike prices
@gbrew24 There is no deal.
Both sides aren't playing up or playing down certain parts of the agreement, they're making completely contradictory statements about whats in it altogether.
@OuncesApp@HFI_Research@CommodMkt That doesn't make any sense, China declining to buy hundreds of millions of barrels of oil the last few months has sent oil prices to their lowest levels since the OG ceasefire