PeakOiler wrote:With a closing price of $45.72 on August 15, the standings are back to about where they were a few weeks ago:
I wonder what a tropical storm in the GOM near oil infrastructure might affect WTI prices for awhile? I've read that the hurricane season is still supposed to be more active this year, the most since 2012.
See Salinski? Right on schedule as I mentioned above. Another dip in the next few weeks is not out of the question. The rally will begin in earnest in November.
<--crosses fingers...
I have heard many time from many people that KSA craves stability in the USA government above anything else because they want to be able to predict our collective behavior a year or three in advance. Thus it is said, they do their best to keep oil markets calm in the 9-12 months before the Presidential election cycle in hopes that the same party in the Presidency will keep that office and nothing much will change for the next four years.
Is their any actual statistical evidence to back up this claim? I always assumed it was just anecdotal wish fulfillment, but things have been so qiet I am starting to wonder if maybe it is true after all.