Do you think that these news should push the price down? Not because of a lack of demand but the actual market price being displayed in dollars. If every country start buying barrels in their currencies how will the futures market price will be calculated?
i doubt it. cl is wti, in fact spr sets a floor at 71-73 for the next 6 million barrel. but otherwise prices vary. https://oilprice.com/oil-price-charts/
you can find plenty of news if you google about oil etc. i trade base on my chart. look at my chart...do you want to go long or short on cl right now? where would you place your stop loss and profit target here?
%% Most likely no; but with back months going down\ short term sell\ + medium term sell\ that may trend price down. chicoms control freaks \evil empire\brazil socialists\ indian over regs\ [US$ 80% markets]; hard \hard to make good omlet with bad eggs I have trend$ i like better, but if /when i think any medium trend may change/ good time to daytrade.......................................... Even if i made a countertrend comment\XOM said one time ''un\needed $20 spec premium in oil ''