Oil Explodes 19% Higher, Biggest Jump In 28 Years | Metals Mine

  • Oil Explodes 19% Higher, Biggest Jump In 28 Years

    From zerohedge.com

    With traders in a state of near-frenzy, with a subset of fintwit scrambling (and failing) to calculate what the limit move in oil would be (hint: there is none for Brent), moments ago brent reopened for trading in the aftermath of Saturday's attack on the "world's most important oil processing plant", and exploded some 19% higher, its biggest jump since 1991. Furthermore, in light of news that the Saudi outage could last for months, this could be just the start. As a reminder, according to Morningstar research director, Sandy Fielden, “Brent could go to $80 tomorrow, while WTI could go to $75... But that would ... (full story)

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Tony112
Sep 15, 2019 5:22pm
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Hi I am newbie. I start trading last week. My account show -19,284.87$ Before I have 1,203$ Is this glitch? I call tech support? But tech support say send bill to me?
Reply
RossEdwards
Sep 15, 2019 8:43pm
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Quoting Guest
I was in buy at 54 and it doubled my account ..wow guess im lucky this time
I think thats wonderful..
Now Take my advice..
Go home. Buy your wife Flowers,
Close your Fx broker account
Take you profits and go do something worthwhile with your life.
Reply
verv
Sep 15, 2019 5:29pm
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Quoting Tony112
Hi I am newbie. I start trading last week. My account show -19,284.87$ Before I have 1,203$ Is this glitch? I call tech support? But tech support say send bill to me?
LMAO!

I shouldn’t laugh because chances are there is somebody that was holding a short and losing their shirt.

Some brokers might go tits up here. Happened when Swiss depegged their currency, could happen again.
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NotBoris
Sep 16, 2019 2:23am
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When the Swiss depegged, it brought down several brokers.....ahhhh one of them, Alpari, comes to mind of several years ago - the stop-hunter got hunted in the end.
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wizardan
Sep 15, 2019 6:02pm
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The current global economic environment does not allow crude oil to have such a high price, and the reason for the rise in crude oil is that the Saudi oil field was attacked on weekends. Saudi Arabia must have enough reserves to deal with this situation. In addition, SELL WTI, because of the rise in crude oil, is not right.
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Tony112
Sep 15, 2019 5:34pm
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Quoting verv
{quote} LMAO! I should laugh because chances are there is somebody that was holding a short and losing their shirt. Some brokers might go tits up here. Happened when Swiss depegged their currency, could happen again.

1:888 casino leveraging pros. Excellent idea . Anyways sorry for those guys. This is bigger than an brexit effect. (Survived that too) I’ll call this Oilxit
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Skracor247
Sep 15, 2019 5:45pm
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Quoting danasa
{quote} lol...nice one! But this oil market just becomes more interesting now! This whole global scale theatrics is becoming intellectually stimulating. Now impulsive buys pile in while it forms a small range at around the spike up level? If so, ever wonder who is selling to you, selling so well price does not blow off former high? And oh, the spike is reactionary, Saudi and US will draw from their reserve to supply the market, meaing, in truth, supply has not truly been withdrawn, when reality of market force of supply and demand sets in, maybe,...
Yeah but the oil reserves act kinda like a battery. Things are fine while they are charged but once depleted you are back to zero. It is like a buffer to the inconsistencies of mid-east supply.
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nbfx
Sep 16, 2019 1:49am
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Quoting RossEdwards
{quote} I think thats wonderful.. Now Take my advice.. Go home. Buy your wife Flowers, Close your Fx broker account Take you profits and go do something worthwhile with your life.
Great advice.
Reply
danasa
Sep 15, 2019 5:34pm
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Quoting Tony112
Hi I am newbie. I start trading last week. My account show -19,284.87$ Before I have 1,203$ Is this glitch? I call tech support? But tech support say send bill to me?
lol...nice one!

But this oil market just becomes more interesting now! This whole global scale theatrics is becoming intellectually stimulating. Now impulsive buys pile in while it forms a small range at around the spike up level? If so, ever wonder who is selling to you, selling so well price does not blow off former high? And oh, the spike is reactionary, Saudi and US will draw from their reserve to supply the market, meaing, in truth, supply has not truly been withdrawn, when reality of market force of supply and demand sets in, maybe, it will fall back! All around the world, Manufacturing is going down, so engines offing, so less oil used, so no demand, so what is causing this spike? Just weekend explosion?
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danasa
Sep 15, 2019 5:44pm
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Quoting Skracor247
This should cause some temporary dollar strength as it will take more of them to purchase the needed oil to supply the unchanged demand. It will also put a little more pressure on the FED to ease.
happy new week my main man! Green pips to you and me...and the rest...if they are lucky, lol
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danasa
Sep 15, 2019 5:50pm
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Quoting Skracor247
{quote} Yeah but the oil reserves act kinda like a battery. Things are fine while they are charged but once depleted you are back to zero. It is like a buffer to the inconsistencies of mid-east supply.
one thing is for sure I am not touch oil yet, lets see london session to see if I can join the bear raid if it happens, if nothing, I will wait for daily close to read into it. only the smart/daring...erm...gambling will touch it now.
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Tony112
Sep 15, 2019 5:35pm
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When facilities restoring and production continuation news pop out, oil will plummet a bit I guess? Or a lot. It’s a big casino out here
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Ghass1234
Sep 15, 2019 8:46pm
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Quoting RossEdwards
{quote} I think thats wonderful.. Now Take my advice.. Go home. Buy your wife Flowers, Close your Fx broker account Take you profits and go do something worthwhile with your life.
oh my god , u know what , no one gave me such advice . i have been stock with this Forex disease 10 years now. my life just passed in front of my eyes without even knowing it . impressing there is still good advices out there .
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Skracor247
Sep 15, 2019 5:35pm
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This should cause some temporary dollar strength as it will take more of them to purchase the needed oil to supply the unchanged demand.

It will also put a little more pressure on the FED to ease.
Reply
Skracor247
Sep 15, 2019 5:46pm
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Quoting danasa
{quote} happy new week my main man! Green pips to you and me...and the rest...if they are lucky, lol
And to you bro!
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C8H18
Sep 15, 2019 5:21pm
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What a spectacular spike!
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Lamplighter
Sep 15, 2019 6:21pm
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Iranian oil sales?
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Rose_5-HT
Sep 15, 2019 5:53pm
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Quoting Tony112
Hi I am newbie. I start trading last week. My account show -19,284.87$ Before I have 1,203$ Is this glitch? I call tech support? But tech support say send bill to me?
Does your account have negative balance protection ?!
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Linzaroo
Sep 15, 2019 8:23pm
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YUP! Just as I predicted! xxx
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Trader#FC81
Sep 15, 2019 9:55pm
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i sent my oil strategy to the Saudi's, said oil is stuck around $58/bbl, the strongest Nash equilibrium I could find. So I said if you get 10k agents to trade the futures by buying, then you false flag attack your oil and take physical off the market and cash in the futures. When prices go high enough sell 5 years worth of oil and then over supply the market and keep yo yoing prices until you have deleveraged your economy from oil. Make money on futures and manipulate the physicals.
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Trader#5B38
Sep 15, 2019 6:58pm
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I was in buy at 54 and it doubled my account ..wow guess im lucky this time
Reply
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