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Opec has raised production, slightly more than anticipated plus Saudi Arabia has cut prices by $ 2.30…all as the Tariffs hit……and u can bet that the Opec members in the know, loaded up with puts before it was all announced, so once the Tariffs news hit, the Algo’s had to delta hedge at mkt, loads and loads of puts…hence the Oil mkt fell apart…..
Russia may have agreed to all this, as if the war ends, their expenditure goes right down……and of course Trump gets a cheaper oil price….being on the inside, at the moment….sure helps.