Locator: 45065WTI.
The Energy Institute Statistical Review of World Energy, 2022, has just been released.
So, after all this data was released,
- solar and wind ddn’t dent fossil fuels,
- global economy is ready to surge post-Covid,
- Saudi Arabia cuts production,
- Russia almost stages a coup,
- and .... and .... and ... and ..
What did WTI do today?
- can't break $70
- surges ... by 19 cents -- disregard -- that was pre-market ---
- up ... by 0.27% -- disregard -- that was pre-market ---
Now that the market has opened,
- didn't break $70
- drops half-a-percent
- trading below $69
- looks like WTI will close slightly up but below $70
- and this is on a "good news" day for oil.
And the lead story over at Oilprice.com: Saudi Arabia could slash oil supply to the US.
OMG.
Seriously.
That's the headline. That's the top story. Slash. Pretty scary word.
OMG.
On that news, WTI drops half-a-percent. And the huge July 4th this weekend -- and a long weekend -- five days -- people will start leaving Friday -- Monday is the "who cares -- tomorrow is the holiday -- I will just call in sick" day -- five days ...
Does anyone pay attention to data any more?
Saudi Arabia oil to US -- historical -- link here.
Remember, Saudi has a huge refinery in the US -- unless they want to buy Permian oil for that refinery, they can't "slash" much.
I guess it depends on the definition of "slash."
Oh, here we go ... WTI is starting to move ... up 15 cents .... trading at $69.31.
Good luck to all. I'm going biking.
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