Posted on 05/08/2018 8:38:34 AM PDT by bananaman22
Oil prices dropped early on Tuesday as market participants await the decision of U.S. President Donald Trump on the Iran nuclear deal at 2:00 p.m. today.
President Trump tweeted on Monday that he would announce his decision on whether to waive sanctions on Iran at 2:00 p.m.
At 11:35 a.m. EDT on Tuesday, WTI Crude was down 3.65 percent at $68.10 and Brent Crude was down 3.02 percent at $73.87.
(Excerpt) Read more at oilprice.com ...
Ha
Always hated the financial media. 3% is hardly a crash.
What is there even to consider? Can’t imagine him keeping this deal - it will surely piss off his base, and turn Kerry into some international hero.
That's a "crash"??
They just make things up. They clearly don't have real sources, just Mr. Unnamed.
3 percent is not a “crash”.
Heck, not even an adjustment. More of a trim.
I dare say that the folks who own and run oilprice.com are not too happy with Trump dumping the deal.
Bwa hahahahaha
3% is a crash if you are levered to the “9’s”.....lol... cash on cash , yes it is a significant change if it occurred on a regular basis.
Protip: If the ‘y’ axis doesn’t start at zero, or some other justifiable minimum, someone is trying to manipulate you. Same thing with the maximum. If the axis had $1000/bbl as its maximum, it wouldn’t look like a crash at all!
They are hyping the "Crash" so everyone sees today's bottom price and NOT the starting price, that way they can HYPERVENTILATE over the ENORMOUS rise in prices when Trump announces we are pulling out and reinstituting sanctions.
A rise from $68 to $75 Looks a lot BIGGER than a rise from $73 to $75.
Hahahahahaha
“CNN is breaking that he is not pulling out and the NY times is breaking that he is”
Are we sure CNN isn’t still covering Stormy Daniels with this report?
The price of oil isn’t determined in the US. The one’s that will determine it will mainly in Europe. Whether we import or not is not determined by OPEC Oil, but the removal of 800,000 bopd will affect the price in an upward way. BTW, reports are that Israel just bombed the crap out of Damascus (iranian missiles in the Damascus area.) https://www.israelnationalnews.com/News/News.aspx/245638?utm_source=activetrail&utm_medium=email&utm_campaign=nl. I guess we will see what the mood is after that. Since I have been in the Oil and Gas business for over forty years, I have learned that it is not real shortages that affect the prices, but the perception of them. We will both see what happens to the price now. Remember, any price hike benefits the Russians, so they might not be as mad as what they are saying (Iran is a potential competitor with them for European Oil and Gas).
It is likely to go the other way very soon - Reports are that Israel is bombing Syria as we speak (Iranian Missiles) - https://www.israelnationalnews.com/News/News.aspx/245638?utm_source=activetrail&utm_medium=email&utm_campaign=nl
I trade oil stocks all the time...and today was no crash.
Thanks. interesting actual news.
It would be really sad if Iran couldn’t sell any oil.....
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