OIL SET TO surge Monday. Record oil production cut! Intervention is everywhere

Thought we could be driving with gas prices below a $1.50 for a long long long time, like 3-4-5 years, but that hope was completely destroyed moments ago...Whether its equities, housing prices, refinance rates, and now oil prices, nothing stays down, everything is forced higher with fed intervention, butttttt the interest rates big happy banks get to borrow at, they are the luckiest to enjoy the low low low low rate set by the Federal reserve, we get to borrow that money at significant higher borrowing costs and of course any savings, well there is absolutely no such thing as a savings rate any more, thanks to the fed and their big bailout plans that leaves out all savers!!!!!

But yep oil should surge by 15-20% tonight.


https://www.cnbc.com/2020/04/12/ope...-production-cut-after-days-of-discussion.html

 

Thanks for the heads up

 

No problem. That will be the biggest news for tomorrow's open. Unless the fed adds another few trillion to prop up equities ...

 

Oil won’t “surge” tomorrow.
9.7MM barrels is a joke
Market priced in 10+ over the last two weeks.
Wouldn’t surprise me if oil is red on this old news

 

So oil will be up $3 tomorrow? I could maybe see that. Hardly a surge. This wasn't exactly an impressive cut given the circumstances.

 

Why is Putin not asking for the sanctions to be lifted? Maybe he is in private. Russia stopped buying gold last week when they got to 20% of reserves. It looked like Russia was winning and then they went soft.

 

I look at it as a deal was finalized and that weeks and weeks of uncertainty from the possibility of no cut that now any cut was significant news even if it was 5 million. The markets wanted a cut either which way one looked at it so I believe oil surges tomorrow. May not hold but I believe it opens up at least 10%, 15-20% on the very high side.

 

I don’t think there ever was a real possibility of no cut.
Just my opinion
Guess we will find out in a few hours

 

Yes few more hours to get our answers

 

You mean it will rocket to the sky to prices not seen since ... Thursday?
If we go up $2...I won’t be surprised.
Would be less surprised to see us retest sub $20.