What’s going on with crude tonight? Pretty strong action going on.
Wow, I see what you mean Jim!
Crude oil prices launched higher as a Washington Post article saying that the US will imminently discontinue waivers on Iranian crude oil imports. Secretary of State Mike Pompeo is reportedly due to announce today that – as of May 2 – the eight countries that received waivers from US sanctions on trade with Iran in November will need to stop shipments or face penalties.
Goldman Sachs tried to break the crude oil market and get it below $63.00. On Friday they realized they could not do this and goldman started buying the market and continued the buying into today, to try another PUMP and DUMP.
I am flat and assessing things. $66 may be a short term top. Watching for now. I tried to buy last night but I had an order $0.10 below Friday's close but the market never pulled back, not even a dime and as I raised my bid it did not matter. Up and Up we went.