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Oil prices on Friday fell as traders took profits after a steady run higher, even though news on Iran sanctions, Libyan fighting and Russian quality issues had pushed prices up earlier in the week. The article attributes part of the sell-off to long liquidation following Trump's comments on OPEC.
Profit-taking and long liquidation amplify short-term crude price swings, which can briefly lower energy costs but do not change the underlying supply balance.
forbes.comMichael LynchApr 28, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Attributes the Friday decline to profit-taking and long liquidation after a run higher and Trump's OPEC comments, amplifying the sell-off through positioning.
