Tanker hit . . . Price floor ?

[Falcon + 222]

Tanker attack would have scared both WTI and Brent up 20% in early 2000's. 

Whomever organized the attack may have put a floor under price.  

Think oil still trades in a range between $50 to $55 for time being with $50 floor.

Analyst keep taking about demand as the culprit re oil prices.  Supply is big part of it. Very little transparency as to real worldwide inventory. 

OPEC will do whatever necessary to "stabilize" price.  Many OPEC countries would be chaos if Brent prices settled in upper fifties.

Some good positions if VIX comes in a bit.

Edited June 13, 2019 by Falcon