Though I’m trying not to respond to you, it’s a good question. I don’t think anybody, including me, can explain how global oil markets really work. Those that can are making money right now and aren’t here. I’ve done a little spot market trading, and it is very reactive. Traders overprepare for events and always in worse case scenarios. I believe they overprepared for middle east war, and Iran’s attack was such a failure that they all reversed at the same time.
Though I’m trying not to respond to you, it’s a good question. I don’t think anybody, including me, can explain how global oil markets really work. Those that can are making money right now and aren’t here. I’ve done a little spot market trading, and it is very reactive. Traders overprepare for events and always in worse case scenarios. I believe they overprepared for middle east war, and Iran’s attack was such a failure that they all reversed at the same time.