Oil Market and Emotion
Warm Greetings,
Today, King Fahd of Saudi Arabia passed away. Oil futures closed above $61.00. King Fahd will be succeeded by King Abdullah. Wait a second, King Fahd had a stroke several years ago and King Abdullah has been basically a figurehead since then. Abdullah has been ruling the kingdom since the stroke. Riyadh is saying that oil policy is not changing.
What am I missing here? This is a prime example of either markets acting on emotion or prices being controlled. If the news is correct, then nothing else makes sense.
On another note, I am trying to start a running program for myself to get back into decent shape. Trying to complete my MBA and having a family caused my fitness to lapse. Anyway, no excuses now. Ran and walked 1.5 miles today.
Have a fruitful day,
RGH
Today, King Fahd of Saudi Arabia passed away. Oil futures closed above $61.00. King Fahd will be succeeded by King Abdullah. Wait a second, King Fahd had a stroke several years ago and King Abdullah has been basically a figurehead since then. Abdullah has been ruling the kingdom since the stroke. Riyadh is saying that oil policy is not changing.
What am I missing here? This is a prime example of either markets acting on emotion or prices being controlled. If the news is correct, then nothing else makes sense.
On another note, I am trying to start a running program for myself to get back into decent shape. Trying to complete my MBA and having a family caused my fitness to lapse. Anyway, no excuses now. Ran and walked 1.5 miles today.
Have a fruitful day,
RGH
posted by Robert Hann, Broker Associate at Weichert, Realtors-Nickel Gorup | 5:09 PM
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