by ZeroHedge News Staff at ZeroHedge
100% of the time, Reuters’ oil market manipulation – on behalf of various unnamed deep tate interests – works 100% of the time.
Last Friday morning, just as Brent crude was threatening to extend gains above $80, forcing oil CTAs and other momentum-chasers to close out their near record net short positioning…
… Reuters did what it has done so many times before, and published an oil market manipulating report, designed to crush the price of oil and reverse upward momentum to snuff out the risk of an accelerating short squeeze. As we reported at the time, and with oil just barely above 2024 lows, Reuters cited “six sources who wish to remain anonymous” that OPEC+ is set to proceed with a planned oil output hike from October, because “Libyan outages and pledged cuts by some members to compensate for overproduction counter the impact of sluggish demand” which – as we said – is idiocy as the only thing that matters for oil prices – a bump in Chinese demand – is missing.
Predictably, oil tumbled instantly – a reaction that was naturally welcome by the deep state forces propping up the puppet presidential candidate known as Kamala Harris as it meant even lower gas prices, and which angered us because as we explained:…
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