Oil Price Drop: Blame it on Algos

Haris Anwar, Senior Analyst at Investing.com, blames the “machines” for the sell-off. "Rather than saying that inmates are running the asylum, I think it's more appropriate to say that machines are running the oil market,” explains Anwar. “And that's pulverizing oil, with the few remaining bulls in the market unable to make any sense of what's going on, particularly when you have U.S. stockpile draws and Libyan force majeure. The narrative remains on the glut and the combination of record U.S., Saudi and Russian production." Here. I think this guy may well have a point.

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1 hour ago, Marina Schwarz said:

"Rather than saying that inmates are running the asylum, I think it's more appropriate to say that machines are running the oil market,” 

Welcome to the AI Zombie Apocalypse.

 

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