Oil futures struggled to hold on to $90 a barrel Wednesday, less than
two weeks after topping $100, under pressure from renewed euro-zone
concerns and as a surprise decrease in inventories failed to lift
It was reported in marketwatch:
"Losses mounted as the session progressed, and the news from the Energy
Information Administration was not enough to counter the fears of
diminished demand for oil amid turmoil in Europe and concerns that the
latest round of monetary stimulus in the U.S. might not be enough."
Well dear friends,
This drop in oil price was predicted. Easy play if you followed our call. Even Wall Street could not explain the drop.They thought it was high frequency trading fault. Even the supply assurance today did not help the drop. Why???
We explained a few days ago in this article, remember?
We mentioned that although there may be a temporary rebound in US energy and oil price. But it won't be long. Mid term trend is down. Grab your opportunity to short!
But please rest assured that it has not affected Singapore Energy Stocks like Ezion and Ezra. They are different.
What I meant is oil price and US energy stocks. And do not think that this is the lowest oil will be... w still think it has chance to drop some more... when energy stocks really turn bearish!