Loading ...IMHO, there’s no sane reason why oil should be going down ( unless it’s 60 days out from the midterms……).
Here’s one traders take:
Elevated volatility is the story here,” said Rebecca Babin, a senior energy trader at CIBC Private Wealth Management.
“There is no way to have conviction and want to place bets when the market trades in huge ranges with limited liquidity. The risk reward is just not there.”
Perhaps the government just doesn’t care if they lose or make money trading oil (or any other commodity for that matter). I just think they realize that big volatile moves takes some traders out of the picture, and it’s easier for them to take it where they want it to go….