Oil Rally Faces Tidal Wave of Supply

7 minutes ago, Marina Schwarz said:

Not just any wave, a TIDAL one! Oil at $20 is around the corner.

But I was just reading about how oil was going to be well over the $100 mark! ;)

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Ahem.  Part of my comment late last week:

On 11/2/2018 at 5:52 AM, Tom Kirkman said:

I pretty much expect markets to go bonkers next week, at least until after the U.S. midterm elections are over with, Central America caravan dealt with somehow, MbS stays or goes, and the markets figure out that (in my opinion anyway) Iranian oil will likely just shift to the black markets, but not be removed from global markets.

Stock up on popcorn...

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Saudi Arabia and Russia have been pumping more oil to replace the Iranian oil that only disappeared from the radar but is still on the market.

As I say from some time now on this forum, the market has overestimated the effect of the Iranian sanctions on oil supply and underestimated the impact of the trade wars on oil demand.

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1 hour ago, Guillaume Albasini said:

As I say from some time now on this forum, the market has overestimated the effect of the Iranian sanctions on oil supply and underestimated the impact of the trade wars on oil demand.

I think the traders deliberately pumped up the risk in the media to raise the oil price to make money on the upside and once people started talking about $120 a barrel they started shorting it. Pretty much the usual, oil overshoots both ways normally.

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2 hours ago, DA? said:

But I was just reading about how oil was going to be well over the $100 mark! ;)

Yes, it's fun, isn't it? Well, not for everyone but I am definitely having some. With popcorn, @Tom Kirkman

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9 minutes ago, Marina Schwarz said:

Yes, it's fun, isn't it? Well, not for everyone but I am definitely having some. With popcorn, @Tom Kirkman

Volatility isn't exactly health in the market place, as long as it's other peoples money (that can afford to burn it) invested in this I'll join you two with the popcorn. 

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That's the most sensible thing to do, definitely.

Take your pick.

BBB110-Homemade-Microwave-Popcorn-Thumbn

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49 minutes ago, Marina Schwarz said:

That's the most sensible thing to do, definitely.

Take your pick.

BBB110-Homemade-Microwave-Popcorn-Thumbn

I'll take the light sweet one, please.

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Tidal waves in any form are destructive, and this one will be no different.  I guess that is why we're all getting our popcorn orders in early?

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