The Rise and Fall of Oil Prices

The reason oil went up from those mid 60s was that surprise OPEC plus cut and it caught a lot of people off guard because there was a huge amount of short positioning. Now we're starting to see some of that come back We've I mean if you look at an oil chart, we've been kind of just trading this range So now we're getting back to the lower end of that range and maybe that's one of the reasons why reflexive buying coming in Maybe just maybe SPR's coming in and say hey, this is our chance to buy some oil because we're at historic lows.