If you follow the news, you know about the big drone strike on a Saudi Aramco oil refinery - their largest one - this weekend. An Iran linked group is claiming responsibility. From articles I have read, they are saying this will drop production by 5 million BPD which is pretty significant... then of course the tension this creates on a world scale, in an already sensitive oil market with the USA and Iran going at it.
Anyways, this will cause oil to gap up big at market open this evening. I plan on playing that gap, but will wait for a little pull back before I enter long.
Anyways, this will cause oil to gap up big at market open this evening. I plan on playing that gap, but will wait for a little pull back before I enter long.
Note
Biggest surge in oil price since 1991. Wow! That's pretty significant. I bought some crude after it pulled back last night. Good luck to anyone else that did the same.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.