Crude Oil Is Down 9% Today

[gab13by13]

Here we go again with the market manipulation just to protect Krasnov.

Gas was at the point that it was taking over $100 for Magats to fill up their pickup trucks.

Once again we are being told that crude has dropped because a peace plan may be happening. How many times has this excuse been made to lower the price of crude? How many Krasnov relatives made a killing betting on the price of crude today?

A tanker blew up and caught on fire trying to go through Hormuz. Israel is talking about bombing Iran again. Iran is bombing oil facilities in the UAE and the price of crude falls 9%, sorry, as W said fool me once shame on me, fool me 3 or 4 times, I forget the next line.

[Delarage]

1. Old men and oil companies

Several times Democrats have made headway against oil companies---with tremendous backlash (Bush v. Gore; Russia/Trump vs. Clinton/Harris)--so now it has been confirmed for me that oil is the lifeblood of corruption and control. We could easily become energy-independent (alternative sources--even nuclear) but instead we pay wind companies to cancel their projects, cancelled all of Clinton's energy initiatives, cancelled Biden's initiatives.

As Midnight Oil pointed out---nothing's as precious as a hole in the ground.

[Omnipresent]

4. Energy independence would be nice, but the US is tied into the global market.

US oil production is sold here and abroad. Oil companies aren’t regulated to only selling to the US.
We can “Drill baby drill!” all we want to just supply US consumers in the false hope of keeping prices low, but the reality is that any overseas calamity would still affect the price.

[ProfessorGAC]

2. There's No Conspiracy

You are trying to attribute logic to an irrational system.
The market acts irrationally and requires no shadowy background to explain overreaction on price.

[gab13by13]

8. It was more rational when OPEC controlled the price,

and not market manipulators, certainly the invisible hand of the market was a joke.

The word I hear all of the time that makes me shudder is, "perception." When markets are based on perception they can certainly be manipulated.

[ProfessorGAC]

13. Can't Agree

Just because it is no longer rational, doesn't make it any easier to manipulate than when OPEC could affect prices by simply turning pumps up or down.
Plus, the market back then still reacted to world events.
I still think the marketeers are looking for their short term gains so they overreact to every event.

[SamuelTheThird]

15. Japan

https://finance.yahoo.com/economy/policy/articles/oil-futures-japans-cool-pivot-113752970.html

[twodogsbarking]

3. Well strike up the freakin' band and have a parade.

[multigraincracker]

5. Bust the Trust.

Time to break up Big Oil. When the same big corporations own the oil fields, oil transportation, refineries and retail stores, we are their victims.

[Johnny2X2X]

6. Trump is pretending we have a deal again

This is just market manipulation. The oil speculators know Trump is full of shit, but they're just playing the game.

[muriel_volestrangler]

7. It's also possible the price went down (now on its way back up) because they think The Rapist will have to stop

fucking around and changing his mind every few hours, and a negotiated settlement would mean stability.

[Ray Bruns]

9. These stupid bastards are still under the delusion that Stinky is going to pull us out of this mess.

Maddening.

[hay rick]

10. I doubt that anybody with $10 in their wallet takes Trump's pronouncements on Iran seriously at this point.

It might have been a profitable play the first time or two but now Trump's just the chubby little boy who called "BULL!" way too often.

[Happy Hoosier]

11. But hey! My 401K will go up a lot today!

That's certainly worth the Trump clan making billions on this scheme, right?

[RedWhiteBlueIsRacist]

12. Iran lives, Islam lives. MAGAs will be crestfallen. Now, back to the Epstein files!

[BumRushDaShow]

14. And he threatened to "hit harder" today and it is rising right back up again (as I posted in another thread)

Snapshot just after 9 am -

[Fiendish Thingy]

16. Of course, you mean crude oil *futures*

Which makes sense, given the rumours of cessation of hostilities and reopening of Hormuz.

If it happens, expect futures to plummet, and if it doesn’t, expect the ongoing roller coaster.

While there has definitely been an element of manipulation/insider trading in this war, much of it is attributable to the mercurial incompetence of one man.

[nitpicked]

17. Meanwhile, AAA reports of national pump price averages have trended upwards day by day

Not yo-yoing every hour with every latest bulletin.

[Fiendish Thingy]

20. In my town the prices have fluctuated by 20-30 cents/litre every week

But yes, the general trend is upward.

[returnee]

18. Any interesting massive trades...

…minutes before TSF’s announcement?

[republianmushroom]

19. Did your gas pump price drop 9% ?

Was this before or after the US firer upon an Iran tanker ?

[Melon]

21. The US has escorted some tankers through the straits.