Today was a bit of a surprising day as oil price did not went into the direction expected.
It would seem that Iran does not want to freeze or cut production under pre sanctions production and refuse to talk until that level is reached.
I don't believe that for 1 cent. I do think there are talks behind close doors between major oil producers and Iran to grant Iran some advantages should they decide to go with its neighbours.
There is simply no way Saudi Arabia (and many other) will let their country goes bankrupt and continue to cut their annual budget because of oil price or should i say over production.
That is the main reason i do not short this market as it is actually in a phase where even a slight cut would send oil price sky rocket in a blink of an eye. Remember Friday......12% one day on a rumor. Imagine a real cut from all parties....oil would climb back to 38-40$
The rest of the week will be interesting to say the least and i will keep my ears to the ground in case of any rumble.....
Have fun
It would seem that Iran does not want to freeze or cut production under pre sanctions production and refuse to talk until that level is reached.
I don't believe that for 1 cent. I do think there are talks behind close doors between major oil producers and Iran to grant Iran some advantages should they decide to go with its neighbours.
There is simply no way Saudi Arabia (and many other) will let their country goes bankrupt and continue to cut their annual budget because of oil price or should i say over production.
That is the main reason i do not short this market as it is actually in a phase where even a slight cut would send oil price sky rocket in a blink of an eye. Remember Friday......12% one day on a rumor. Imagine a real cut from all parties....oil would climb back to 38-40$
The rest of the week will be interesting to say the least and i will keep my ears to the ground in case of any rumble.....
Have fun
Aucun commentaire:
Publier un commentaire