Crude Oil

bone said:
Crude firmer as a consequence of Saudi/UAE commercial vessel sabotage attacks - and in the face of another massive equities sell-off. Impressive. And bullish.
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Why CL is bullish with massive equity sell-off??
 
I keep reading that crude fundamentals are very bullish, and without the China-US trade bs and stock market skittishness, WTi would be trading $66 or higher.

They keep predicting massive draws in inventories, which has yet to materialize, saying it's right around the corner.
 
VolSkewTrader said:
I keep reading that crude fundamentals are very bullish, and without the China-US trade bs and stock market skittishness, WTi would be trading $66 or higher.

They keep predicting massive draws in inventories, which has yet to materialize, saying it's right around the corner.
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Not really in US. A lot of the Canadian heavy crude still stranded. Domestic crude production still going strong. Brent is a totally different story.
 
Uh-Oh! https://www.caixinglobal.com/2019-0...-its-china-business-downstream-101418229.html

It seems China is officially gonna bypass US Dollar Oil sales... By allowing Saudi's to enter China and own the Industry in there, China has Russia-Iran-Venezuela and now Saudi playing ball.

If US doesn't get Venezuela anytime soon, and get booted out of Iraq... End of Petro Dollar is gonna come a whole lot faster then I thought... Nobody is talking about it except high US military/Government Officials. End of Petro Dollar would be devastating to the US economy, devastating...

If Russia-Iran only, it's ok... But Middle east and Venezuela on the band wagon, they are done for
 
bone said:
If you look even closer at the market microstructure - energy indices follow the Crude Oil Futures.
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What energy indices you talking about? Crude is the most important part of the energy index. Of course they move together. What am I missing?

You were talking about divergence of crude vs equity indices before....
 
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