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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 413.19

+1.1%

Jan 6 4:00 PM EST

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To: twmoore who wrote (168244)	2/8/2021 7:10:10 PM
From: sense	Read Replies (1) of 219053

Derivatives did not cause changes in oil prices... not any more than hammers build houses... Change in Supply and Demand did cause price changes... What derivatives did was point out that the "can't get there from here" element in market driven re-balancing of supply and demand was broken... And, its a good thing they did... or oil producers would have ended up spilling oil out onto the ground for lack of anywhere to put it... And, worth noting, the balance between supply and demand was broken on purpose... by deliberately made choices of oil producing nations... Russia and Saudi Arabia most notably choosing to over-produce in spite of demand imploding due to the virus. That "message" that was delivered by derivatives price changes... isn't a reason to shoot the messenger... The oil price equation is a multi-layered onion... but there's very little mystery about what the layers are... Now, oil prices are back to where they were a year ago... So, why would that have you being totally pissed ? Oil Tops $60 as Demand Recovers rigzone.com

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