The American Petroleum Institute published a report on crude oil reserves: last week the reserves grew by 6 million barrels. Most likely, this report will distract the markets from the uncertainty in trade between the U.S. and China for some time, although oil prices are now very dependent on progress in U.S.-Chinese relations.
No matter how these events develop further, we can already say with certainty that someone needs to destabilize the oil market. I don't want to blame the U.S. for this, but it seems that it is the U.S. that is interested in making oil volatile.
Americans hope to be well prepared for decisive actions in the stock market thanks to this uncertainty, but many traders understand the true state of affairs and try to find their own drivers for the formation of trends, bypassing the United States. Whoever wins in this confrontation, will show time. But it seems that America has chosen a bluffing tactic and has no real trumps.
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Nov 20, 2019
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The American Petroleum Institute published a report on crude oil reserves: last week the reserves grew by 6 million barrels. Most likely, this report will distract the markets from the uncertainty in trade between the U.S. and China for some time, although oil prices are now very dependent on progress in U.S.-Chinese relations.
No matter how these events develop further, we can already say with certainty that someone needs to destabilize the oil market. I don't want to blame the U.S. for this, but it seems that it is the U.S. that is interested in making oil volatile.
Americans hope to be well prepared for decisive actions in the stock market thanks to this uncertainty, but many traders understand the true state of affairs and try to find their own drivers for the formation of trends, bypassing the United States. Whoever wins in this confrontation, will show time. But it seems that America has chosen a bluffing tactic and has no real trumps.