With 1 million barrels per day planned to be released from the Strategic Petroleum Reserve, how will the price of Crude Oil react? Bill Baruch, President of Blue Line Futures, joins Yahoo Finance.
--- There will be near term pressure to lower gas prices, but we typically do not see a drop until the kids go back to school.
--- For every action there is an equal and opposite reaction, but looking at the fundamental landscape 6-9 mo out, will there be enough oil and/or refining capacity?
--- The White House will gain some near term votes, but are they sacrificing near term gains for long term issues?
--- With Opec already adding 432,000 bpd in May, can they actually change course?
--- Saudi Arabia is looking for reasons not to bring more Crude online.
--- Gravity headlines are creating a White House vs. Oil Producers narrative.
Sign up for a 14-day, no-obligation free trial of our proprietary research with actionable ideas!
Sign Up for Free Trial
Subscribe to our YouTube Channel
Email [email protected] or call 312-278-0500 with any questions -- our trade desk is here to help with anything on the board!
Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Like this post? Share it below: