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Modest drop in oil price: SPRs vs US crude inventory build

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SPRs vs US Crude Oil Build

The price of crude oil dropped slightly this week, although the real factor behind it is debatable. At present, it is as if the SPRs were competing with US inventory build to in order to be the more dominant factor!

If the calculated move fails to do the trick in bringing down the price of oil price, analysts wonder what next for the US administration to pursue in taming the crude oil markets.

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(edited)

Crude is off $10 in the last 24 hours .....stop the presses.........the week is not over yet.....Black Friday is handing sleepy Job a victory with lower crude and a 25 cent drop at the pump...........Enjoy the thought

Edited by notsonice

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2 hours ago, notsonice said:

Crude is off $10 in the last 24 hours .....stop the presses.........the week is not over yet.....Black Friday is handing sleepy Job a victory with lower crude and a 25 cent drop at the pump...........Enjoy the thought

You mean the new "variant" is, but whatever. 

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1 hour ago, QuarterCenturyVet said:

You mean the new "variant" is, but whatever. 

major stock exchanges are down 2 to 3 percent on the variant news , Oil is down 12 to 13 percent. Can you do the math on what is pushing prices down ? I do love the fact that Trumpers that will not get the vaccine are aiding  Sleepy Joe by lending a helping hand in dropping the Oil price. Priceless. Enjoy. Inflation? next report will be a negative.

Edited by notsonice

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5 hours ago, notsonice said:

major stock exchanges are down 2 to 3 percent on the variant news , Oil is down 12 to 13 percent. Can you do the math on what is pushing prices down ? I do love the fact that Trumpers that will not get the vaccine are aiding  Sleepy Joe by lending a helping hand in dropping the Oil price. Priceless. Enjoy. Inflation? next report will be a negative.

Oh, is that how oil was trading at negative integers in 2020? 

You're a loser and an idiot if you think that these variants cares about vaccination status. It doesn't. Neither does the market. If it did, the pandemic would be over. 

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