When you take into account Russian oil under strict measure and still #oil is not going past $100, other players are satisfying the market. Cutting to the left, favors the right.
Maybe some quid pro quo was reached the other day: We won't cut production if you let us merge our LIV Tour w/ the PGA. There's no correlation between price drop after announced cut and the golf merger, but the timing is too convenient.
some fake news around iran caused the dump. it will be back at $73 in no time. curious to see for how long will it hold the $70+ level.
Do you think Oil price also affects the crypto market?
Not directly. Maybe in terms of overall risk on/risk off sentiment.
#oil is a reflection of the economy I believe.
That fast!?
Somehow we have enough #oil or the whole financial system is slowly recovering #focus
Yes it shows the market feels the demand, i.e. the economy, is not going to fare well going forward.
That is the present bet at the moment.
When you take into account Russian oil under strict measure and still #oil is not going past $100, other players are satisfying the market. Cutting to the left, favors the right.
The Chinese and Indians are buying a lot of Russian #oil, albeit at a major discount.
Maybe some quid pro quo was reached the other day: We won't cut production if you let us merge our LIV Tour w/ the PGA. There's no correlation between price drop after announced cut and the golf merger, but the timing is too convenient.
1M barrels at $70 is $70M per day. That will quickly eclipse the entire LIV-PGa deal.