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Trading Now

Tuesday, November 29, 2016

Iran Says No Production Cut

Why should they when the Saudis have increased production y/y for the past 2+ years. Iran said yesterday that they might agree to hold at current levels but the Saudis balked. Bunch of hypocrites. 
Yesterday WTI Crude was trading at 47.65. This morning it's back at the 45 level. So much for a deal. It's all one big short squeezing only to reverse back to $30 in 2017. Falling crude prices is just the ticket for NJ's Chris Christie and his democratic brethren who will be saved from a well deserved flogging for their .23 tax increase on gasoline. I loathe sanctimonious politicians. Hmmmmm, reminds me of someone.....

1 comment:

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