Ray From Cleveland
Diamond Member
- Aug 16, 2015
- 97,215
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the reason the oil goes up now is due to the stock market, they barter over the price of a barrel of oil for futures.Yet gas prices go up.....more supply should lower prices. I don't trust big oil other than to gouge average folk.
I used to be in the commodities market for a couple of years. People buy and sell contracts based on the news of the day. The news the last couple of years couldn't be better for energy, so not many are buying long contracts. As long as we keep fracking and supplying the world with energy, it will likely stay that way for some time. If a Democrat like Warren gets in, then all bets are off. She claimed her first day in office, she will issue an executive order to stop all fracking in the USA.