1 day WTI chart
Looking at the 1 day WTI chart. I see that we did get a decent rise thanks to tension in the middle east. Things could get sticky folks. We are on the verge of war with Iran. Do I want a war? Hell no. But will I capitalize on oil if war is unavoidable? You better believe I will. If you dont take advantage of it others will.
Now I am the last person here that is hoping for a war with Iran. I have a few Iranian friends that dont want a war either and I like the Iranians I do know. But face the facts.. If war is coming we need to take advantage of what we can as traders. Rarely do we get any warning of something like this and wham... Here is a giant red flag that oil may be ready to rocket up. From what I am hearing war with Iran could drive oil to 150 a barrel.
In the Iraq war oil went well over 100 dollars a barrel. So this an entirely plausible scenario in my eyes. Iran will likely do what it can to avoid a head on collision with the US military. But I believe if things escalate much more Iran will resort to using mines in the straight or Hormuz which will undoubtedly effect oil world wide.
So who really benefits from higher oil prices? Well Iran would if they could find anyone to sell it to.... The US would benefit. Saudi Arabia would benefit along with any oil rich country that isnt under giant sanctions from the US (Venezuela, Iran etc) Which makes me wonder what the end game is here. Trump seemingly wants to keep oil prices down before the election to keep gas prices low for his base.
Now I cannot read Trumps mind. I cant tell you what Iran wants to gain from all this. I can tell you what I think. Iran wants US out of the middle east and US wants Iran to give in and follow the orders of the US govt. Neither sound very plausible to me without some sort of conflict.
We are seeing the prices rise already... Whether they continue to rise depends on a few key factors such as if cooler heads prevail. Both parties (US and Iran) seem to be hot heads. If you really want my opinion I think Trump and Irans supreme leader should go one on one... Steel cage match... Winner gets America :) What do you think???? Are you taking a position in oil????
Now I am the last person here that is hoping for a war with Iran. I have a few Iranian friends that dont want a war either and I like the Iranians I do know. But face the facts.. If war is coming we need to take advantage of what we can as traders. Rarely do we get any warning of something like this and wham... Here is a giant red flag that oil may be ready to rocket up. From what I am hearing war with Iran could drive oil to 150 a barrel.
In the Iraq war oil went well over 100 dollars a barrel. So this an entirely plausible scenario in my eyes. Iran will likely do what it can to avoid a head on collision with the US military. But I believe if things escalate much more Iran will resort to using mines in the straight or Hormuz which will undoubtedly effect oil world wide.
So who really benefits from higher oil prices? Well Iran would if they could find anyone to sell it to.... The US would benefit. Saudi Arabia would benefit along with any oil rich country that isnt under giant sanctions from the US (Venezuela, Iran etc) Which makes me wonder what the end game is here. Trump seemingly wants to keep oil prices down before the election to keep gas prices low for his base.
Now I cannot read Trumps mind. I cant tell you what Iran wants to gain from all this. I can tell you what I think. Iran wants US out of the middle east and US wants Iran to give in and follow the orders of the US govt. Neither sound very plausible to me without some sort of conflict.
We are seeing the prices rise already... Whether they continue to rise depends on a few key factors such as if cooler heads prevail. Both parties (US and Iran) seem to be hot heads. If you really want my opinion I think Trump and Irans supreme leader should go one on one... Steel cage match... Winner gets America :) What do you think???? Are you taking a position in oil????
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