Crude at all time highs again. Who does this? When will the SPR get it through its thick skull that speculation is driving this market 100% and they are aiding and abedding the speculators. When SPR says we no longer honor this price of crude and will only buy at $60 barrel we’ll see a massive selloff in crude and you’ll see several Wall Street speculators blow up to the tune of 10’s of billions. Crude has been run up on speculation and a weak US Dollar. There is no merit in 100%+ higher oil prices in one year of rabid speculation. I’ll make a prediction now. Sooner or later; preferably sooner, we’re going to see someone do something about this and the crooks are going to get very angry while we watch oil prices gap down 30-50% overnight. This run up is not going to selloff slowly. My guess is dealing desks are seeing massive purchases of Crude Put Options right now trying to time the monumental landslide. Of course those standing next to the SPR might catch wind of the selloff before anyone and overleverage their margin accounts short Crude and stand to make 300% windfall profits in 12 hours.
Forex trade calls and crude oil fundamental analysis.
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