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  • Oil up on forecasts for colder weather but supply curbs gains

    From reuters.com

    Oil prices rose by $1 a barrel on Tuesday in thin trade amid prospects of colder weather in coming weeks but the outlook for 2016 remained bearish due to slowing global demand and abundant supplies from OPEC members. Brent and U.S. WTI crude prices gained more than 2 percent to trade above $37 per barrel as of 1415 GMT after falling 3 percent on Monday. Brent traded less than two dollars above an 11-year low of $35.98 hit last week. Both crude benchmarks are down by more than two-thirds since mid-2014 on U.S. shale oil output and OPEC member Saudi Arabia's decision to pump near record volumes to safeguard market ... (full story)

really the cold weather have been in the past weeks so why didn't oil rise in the last few weeks. All suddenly after Christmas oil rise and blame cause the weather is cold.
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market rigging never gets investigated in the oil market, which is of prime importance to the old 'big money', as well as governments worldwide in terms of revenue and tax on oil or petrol/gasoline, whatever u wanna call it. SEC watches S&P like a hawk, forex rogues get imprisoned, but nothing ever happens to big oil money, the biggest scam ever in financial markets. even the culprits ruining the environment with their black sludge get away with it. time is closing in to put an end to WTI and brent.
Quoting toptrader11
really the cold weather have been in the past weeks so why didn't oil rise in the last few weeks. All suddenly after Christmas oil rise and blame cause the weather is cold.
They always have to muster up a good story to coincide with the price change even when it is a bit late
ffs Oil was falling during the busiest driving season last summer and now rising because of some cold weather?? What a lame fcking excuse for the manipulators who are driving the price up today. Not to mention the Saudis flexing their economic muscles to withstand lower price for a prolonged period of time and Iran getting ready to overflood the market.

Maybe these bi tches will start selling again in January .....look like they are taking profits.
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  • Story Stats
  • Posted: Dec 29, 2015 1:38pm
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 4  /  Views: 2,421