Though I’m trying not to respond to you, it’s a good question. I don’t think anybody, including me, can explain how global oil markets really work. Those that can are making money right now and aren’t here. I’ve done a little spot market trading, and it is very reactive. Traders overprepare for events and always in worse case scenarios. I believe they overprepared for middle east war, and Iran’s attack was such a failure that they all reversed at the same time.
So because an oil embargoed country had an almost completely unsuccessful attack on a country with very little oil, it hand an effect on oil prices?
I do not understand anything.
at this point its just bots trading with bots trading with bots. its bots all the way down.
Though I’m trying not to respond to you, it’s a good question. I don’t think anybody, including me, can explain how global oil markets really work. Those that can are making money right now and aren’t here. I’ve done a little spot market trading, and it is very reactive. Traders overprepare for events and always in worse case scenarios. I believe they overprepared for middle east war, and Iran’s attack was such a failure that they all reversed at the same time.
The reasoning, if any, is probably that Iran is utterly incompetent and of less consequence than previously imagined.
It’s not so much about Iran’s incompetence, rather more about the west’s superior technology that destroyed Iran’s and Russia"s best weapons.
Last I heard Iran was aware the weapons it sent were going to be intercepted. Kinda a saving face thing.
Listening to Ryan from https://www.ryanmcbeth.com/
Competence is all relative.