“Wow, must have been a huge drop in demand or increase in supply over the last 3 days.”
July 17 at 3:10 pm
- Link
Atul Arora liked this
And a big increase of financials at the same time. I guess you need cheap oil to run banks. ;) - Chris White
Why, yes, crude oil inventories did rise unexpectedly (though only 1%): http://www.eia.doe.gov/pub/oil... - Larry Greenfield
The oil correction that everyone said was going to come, finally did. - Morton Fox
Um, this was from last week. Oil started going down on Tuesday. i guess all the speculators took Bastille weekend off. - Chris White
I can't find the schedule. It might be that these reports come out on Monday reflecting the previous week. But both the supply and the demand (and the expectation of future) do seem to move faster than I would have expected. - Larry Greenfield
I'm absolutely positive that it has everything to do with the dollar finally strengthening. http://finance.google.com/fina... - Occasional Headbanger
The dollar hasn't strengthened very much. More likely, the dollar is stronger because oil has fallen. I've heard what is happening is that large banks are selling their oil futures to raise capital. We have no visibility into how large these banks' holding in oil and other commodities futures are. My hunch is they're huge. That's why we need transparency for oil trades just like we have for the stock market. - Chris White
We have transparency for the stock market? - ⓞnor