Haha I like it. It's not the first time Houthi rebels try to attack SA oil supply, There was no guarantee of success and they could have failed in many ways like before. So long the oil on Friday before market closes in hope for this successful "project" is a risky trade. Did they? May be. Insider trading? I don't think so.
CL and energy sector has been screaming buy on the charts for a couple of months now... I think insiders were accumulating before this..
Lots of volatility both ways with Trump talking about releasing the petroleum reserves. Options premiums are pretty ballooned....but I would only look to sell vertical spreads, probably both ways. Don't have the stomach or desire to sell any naked premium.......
Just about everyone here seems to be talking about the CME CL contract - you need to be looking at the ICE Brent contract.
I like that market very much however, ICE charges retail clients over 4100 per month for realtime data versus the CME charging $5 per month for retail clients....
I am strictly referring to the what instrument would be more relevant geographically between the two. And it's showing in the current markets as Brent is up about twice what WTI is at present. A firm with access to the Singapore or Dubai OTC swaps market would be even more relevant of course.
Strange days indeed when ICE Brent nuclear fission gaps 19 percent higher at the Sunday open and Gold opens just a teeny tiny modest little bump up from Friday's settlement. Which tells you how much North American production has changed the global hydrocarbons supply dynamic.
Shown in a lot of 10 to 15+ % gains in oil field drillers/operators stocks with heavy domestic operations.