Energy Prospectus

https://oilprice.com/Energy/Energy-Gene ... S-Oil.html

We'll hear excuses that eventually oil will find buyers because it's a global mkt. And eventually prices will
spike. But meanwhile it's hard not to suspect that traders have been killing commodities partly because of
the reckless tariff wars and sneaky deals w/ Salman and Netanyahu fill the air with smoke. Energy sec Perry
and Trump keep announcing that the US will be energy "independent." Duh.

The day to day moves in the price of oil (the world's most heavily traded commodity by a wide margin) is totally controlled by automated trades. In the long-term supply/demand fundamentals do set the price, but the "talking heads" that give reasons for the day-to-day moves are just making stuff up.

There was a great discussion about the "automated trades" based on formulas over on the OilPrice.com chatboard, but now I cannot find the link.

Today's storage report was neutral IMHO, so there is no fundamental reason for today's drop. Plus, EIA's weekly numbers are total WAGs anyway.

Did you know that the total dollar amount of oil traded daily is more than triple the amount of gold, silver and other metals being traded?