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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Wharf Rat who wrote (1391308)	2/14/2023 4:44:09 PM
From: Broken_Clock	Read Replies (1) \| Respond to of 1570451

Or maybe it's something else all together. Like a recession, Russian retaliation and Brandon STILL dumping US oil on the market. "Oil prices ended lower after reports of more SPR releases combined with (hawkish-implying) higher than expected inflation data. The SPR release news follows Russia's announcement late last week that it will cut oil production by 500,000 barrels per day starting in March, in retaliation to price caps imposed by the West. "Those cuts in the month of March will total roughly 15 million barrels, but the 26 million barrel release from the SPR by the U.S. beginning April 1st will more than offset those lost barrels, at least in the near term," said Seven Report's Richey. Oil prices have also "started to key off of short-term interest rates in the wake of the CPI report as deep yield curve inversions across durations continue to blare economic warning signs about a looming recession," he said. "A recession is never good for oil and refined products markets from a demand standpoint, and energy traders remain wary of a still elevated recession threat despite recent optimism in risk assets." So all eyes on inventories for demand concerns and fears that the recent trend of broad-based builds is set to continue..."