Hello, the dollar. Oil plunged Monday and Tuesday. today the dollar fell, so oil rose.
This same rumor occurred last week just as oil (/CL) broke below 30. The Russians denied it then, as I assume they will this time. Oil could go a lot lower, letting tptb buy up the Shale companies for pennies on the dollar.
Very informative details about how Japan is lessening its consumption of oil.
Despite all these factors, I think that oil will rise significantly this year. There is nothing more volatile than commodities markets ... Anyway, that’s my view.