The market place just wants change. Commodities are a betting place. All speculation, not business. Oil is priced by contracts.
Every time Americans drop a bomb, the war escalates, according to the mindless news writers.
This is the most escalatory war in world history. Maybe it is occuring now in outer space.
“Commodities are a betting place. All speculation, not business. Oil is priced by contracts.”
and oil stock prices in turn are ridiculously whipsawed by these mostly meaningless changes in oil prices futures ...
i’ve been closely watching this oscillation of oil stocks during this whole time, and they zoom up on the least little little mideast news, e.g., U.S. bombed some empty IRGC oil tankers, and then after a while they zoom back down ... i’m on the verge of selling mine right now as they’ve reached an all time high, and there’s no way they won’t come back down when i can buy them back cheaper [they’re in IRAs so no tax consequences of doing this] ...