Friday, April 8, 2016

The Oilbliteration Report

"Iran ratcheted up its offense in the oil market after breaking a pricing tradition, signaling it’s seeking to win market share at a time when rival producers are trying to forge a deal on freezing output."

“Unquestionably, since the lifting of sanctions, the Iranians have become a force to be reckoned with in global oil markets...Their mission is to recapture market share, pure and simple.”

I made this chart this morning before the market even opened...