Comment on United States Oil (USO) President Donald Trump pulled off an energy coup by Paul Ebeling4/20/2020 Mate, WTI Crude Oil prices saw its weakest level on record as it dove below $5 bbl Monday, marking a daily fall of 76%. The reason for the drop is the excessively abundant supply of Crude Oil and extremely low demand. NA storage facilities are full and there is no place to put new production, amid the huge drop in gasoline demand that has resulted in prices at the US pump going for less than $1.00 gal at some locations. The indication for gold is Bullish. Lower Crude Oil has strong companions in bond yields and plunging interest rates, globally. This enhances the value of non-interest bearing gold and is indicative of the room central banks have to keep stimulating, flushing the system with money, which is also Bullish for gold. Stay tuned… $USO $UGA $XAU $GLD via Comments for Live Trading News https://www.livetradingnews.com/united-states-oil-uso-president-donald-trump-pulled-off-an-energy-coup-173228.html#comment-1546
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Anthony Morphy
12/10/2022 04:18:04 pm
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