It may well have some lasting effect since it was a substantial attack with real supply implications. But you are now being called to action by the headlines, told which oil plays will show the biggest reactions and generally why this is such a big deal. You can hit the image to get the article that is filled with commentary about the whats, whys and how to’s.
This is an epic knee jerk, but a knee jerk none the less. THEY BOMBED ABQAIQ!!!! BUY OIL, BUY ENERGY STOCKS!!!
When I first saw that gold had gone up I thought it was a normal counter-trend (talking short-term stuff here) bounce, but worse than that it is doing the geopolitical knee jerk and you don’t need me to tell you how that usually works out for those seeking the safe haven amid alarming headlines.
It’ll be interesting to see what other energy sectors get bid as a knock on. Prices are going to go up big today but whoever did the bombing (have associates place oil call option orders, press button) and whatever algos bought in the first few seconds may be the only ones making any money. If prices drift upward in the coming days and weeks momos can make a few bucks. But the knee jerk has already taken place. The gap up is extreme and one day I’d expect it to be filled. From Investing.com…
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