Oil prices climbed 1% on Thursday due to worries about supply constraints following additional US sanctions against Iran. US President Donald Trump’s administration announced new penalties Wednesday targeting Iranian oil exports, including sanctions on a Chinese independent refinery, escalating pressure during nuclear negotiations.
West Texas Intermediate (WTI) for May’s settlements at 3:00 am ET trading at $62.91 per barrel. Brent for June delivery was trading at $66.25 per barrel.
I would like to remind you in the June 9th algo fagots, candle stick asshole bumbs rush. May WTI TEMPORARLY plunged to $55.00 only to soar minuets later $62.70. Same story in July Brent. Which crashed to $57.90 only to reverse on a dime to soar that day to $65.50.
Now we are $8:00 off that low. So much for the bullshit fake news about demand falling and production soaring…. Its just not true….