/biz/ - Business & Finance

KLANG KLANG KLANG KLANG

Premarket time! An hour late same as yesterday. Pretty standard and boring spread here similar to yesterday. Everything 1-2% either way except for United States Steel and Marathon Petroleum leading the losers with -8% and -5% respectively.

>>18468437
I don't know if that's a good idea or bad, and personally I am considering cutting a loss on it here. You should be aware of the reason why oil price slipped today and during futures this evening, and it's not about the supply glut specifically. Saudi fucking Arabia betrayed the spirit of their own pet OPEC deal within 24 hours of making it official. They decided to sell oil to China at a discount, sell at same price to EU, and INCREASE price to the US. This is pretty much spitting in the face of the west immediately after shaking hands in peace offering.

Trump now has a decision to make. Step one is whether or not to tariff Saudi oil to the tune of at least 25%. I think for oil to briefly touch the high $20 range again this month there needs to be high likelihood of that and rumor of more to come. If Trump does nothing, oil will plow on down in to the teens in less than two weeks.