Oil Trading Tomorrow
Sixteen million barrels/day are exported through the Persian Gulf.
World production is approximately 83 million barrels/day, so roughly 20% of global production flows through tankers in the Persian Gulf.
The next chart will drive crude oil trading when it opens in Asia later today.
And this headline, 15 minutes ago, has it spiking.
*IRAN’S PARLIAMENT APPROVES CLOSING OFF STRAIT OF HORMUZ
Remember, betting markets are similar to the point spread in a football game. It is helpful to know. But it doesn't mean this will be the outcome.
Fixed Income Professional: Absolute return and Global Aggregate expert. Top performer through the GFC and Covid. If you think a financial crisis is coming I can help. Team and product builder. Leadership.
3mo$80 / barrel is key imho - if this breaks in normal trading hours then we enter the realms of “jump risk” where the price could move abruptly higher with a technical lead eclipsing the “on-the-ground” relative abundance of supply.
Company Owner at Intraday Dynamics. I block MAGAts. If you stand with MAGA, you are NOT a conservative. Stop pretending. You are in a CULT.
3mo$74 X 20% is $95 crude. POLYMARKET. IS. A. SCAM. May as well post “data” from the Weekly World News or The National Enquirer. 🤦♂️
Assistant Vice President, Wealth Management Associate
3moGreat Chart
Managing Partner at Inti Multi-Family Office / Ayudando a familias peruanas de alto patrimonio a lograr sus objetivos financieros
3moWP es closest to 95Mn