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

To: Goose94 who wrote (116396)	11/23/2021 9:18:11 AM
From: Goose94	Read Replies (1) \| Respond to of 203382

Crude Oil: Seems like just yesterday we were marvelling about oil being at seven-year highs as OPEC+ defied calls to ramp up output more aggressively. Now, West Texas Intermediate is nearing correction territory as it slumps a little more than nine per cent from its recent high on Oct. 26 as traders brace for a coordinated release from strategic petroleum reserves. And that release landed early this morning, as U.S. President Joe Biden announced the release of 50 million barrels from the Strategic Petroleum Reserve. Biden added that America’s release will happen “in parallel” with moves by China, Japan, India, Korea, and the United Kingdom. All of this begs the question of how OPEC+ will respond – and what it all means for the energy subgroup that’s been the TSX’s star performer this year. BNN.ca