I believe prices will close lower than open tomorrow. This is a speed bump.
There is no supply issue, just panic over nothing. Trump does not need to release any crude. Just wait it out.
Until they are stopped, the Iranians and their axis friends will try to drive up oil prices for obvious reasons.
Destruction of all Iranian oil and military facilities might be the best way to deal with it.
Two days before these fires started Fox Business ( Stuart Varney ) reported there was a GLUT of oil and oil prices were expected to continue to fall.
America has also been declared to be "oil independent" thanks to fracking.
Two days before these fires started Fox Business ( Stuart Varney ) reported there was a GLUT of oil and oil prices were expected to continue to fall.
America has also been declared to be "oil independent" thanks to fracking.
Carpetbaggers
Keep drilling and fracking. Build Keystone and the other pipelines needed to bring more oil and gas to market. Also, we need to increase refining capacity.