Oil plunges 5 percent??!!??

[Rodent + 1,424]

What the flip?

[James Regan + 1,776]

32 minutes ago, Rodent said:

What the flip?

https://www.cnbc.com/2019/05/23/oil-market-middle-east-tensions-opec-supply-cuts-in-focus.html

[J.mo + 165]

It's about time. Everyone is waiting for "when" the "deficit" comes into play. memorial day is next weekend, summer driving season has kicked off. We are seeing consistent builds. Any draw is insignificant. The blabbing bulls have run their course and have no more clickbait premium. Prices need to come down until they can find another headline to pump them. The numbers speak for themselves and it is only a matter of time. 

[David Jones + 84]

It's oil, it goes up, it goes down. The only thing of real consequence is that the core range of 60-80 (brent) is still holding and my guess is it'll continue holding and potentially even shift down unless the world goes off it's rails completely. The oil industry and it's political subsidizers are not about to let prices go up above $100 with alternatives waiting to pounce and drain demand as well as establish a firmer footing.