Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (46484)	7/17/2018 12:49:51 PM
From: Goose94	Read Replies (1) \| Respond to of 203330

Crude Oil price correction holding for now. The oil market has seen a sudden shift in sentiment compared to just a week ago. There are several reasons for this: The return of oil from Libya, the lifting of force majeure on a key oil stream in Nigeria, the anticipated return of oil from an outage in Canada, increased production from Saudi Arabia and the prospect of an SPR release from the U.S. Taken together, the oil market doesn’t seem as desperate for supply as it did a week ago. Saudi Arabia is offering extra volumes of oil to some buyers in Asia, according to Bloomberg, a sign that the Kingdom is going further to ensure the market is adequately supplied. It also suggests that Russia and Saudi Arabia are likely set to go beyond what was agreed to at the OPEC+ meeting, which called for an additional 1 mb/d of supply. Saudi Arabia also said that OPEC+ would no longer focus on country-specific output limits but instead would heed a collective target, a switch that would free Saudi Arabia to ramp up production.