Quote:
Originally Posted by transplant99
Strangest part of this so far to me?
oil is DOWN almost 4 bucks a barrel....with many refineries and drilling platforms in the way of this thing.....just a weird bobble in the price.
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It's not that strange. If you were to knock out production, we'd be short crude oil so price would go up. If you knock out refineries then demand for crude goes down and price goes down.
I think there are fears that refineries will be impacted more than production ... and there was a fair bit of spec on production going down but first look was that production may not be disrupted as significantly as first thought.