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Strategies & Market Trends : Dino's Bar & Grill
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To: Goose94 who wrote (133944)9/27/2022 12:12:46 PM
From: Goose94Read Replies (1) of 202371
 
Crude Oil: Things are still looking bearish for WTI still trading below the 80 per barrel mark, but a number of bullish catalysts could offer support. Hurricane Ian, was touted to become the next menace of oil production and refining in the U.S. Gulf of Mexico. As of Tuesday morning, two oil majors have decided to shut oil platforms in anticipation, and the hurricane is now expected to make landfall in Florida. Hence, oil market bulls see OPEC+ as their ultimate line of defense against a meager macroeconomic background and a strengthening dollar, with all eyes on Russia, which is likely to propose a major production cut at the next OPEC+ meeting on October 5th.

Oilprice.com
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