Oil Price Sinking Again

[vladtitov151 10]

I don't seem to understand why the price of oil is going down. it been going down for a week consistently. but there seem to be a massive raise in demand. please, someone explain this to me.

[dbelov275 11]

I think there was an over supply of oil but this time, it was from the companies/refineries that stocked up oil during the time oil was sold at $30 per barrel.

[vladtitov151 10]

oh yeah. that would be the reason because it makes total and complete sense. So i guess the price of oil will continue to go lower because it seems that the brexit is happening. so bad for the oil market.

[dbelov275 11]

Well, that seem to be what everyone is saying. however, i don't quite buy it. because there are no indication that the brexit will affect the balance of demand and supply of oil. this is my opinion.

[dbelov275 11]

Also, i don't think they will even go. the last time i checked, the indications were showing 51% to 49% in favor of the remain campaign. So you may as well, not bother much.

[vladtitov151 10]

I really hope that is the case. because in my opinion, it makes no sense to leave the EU because they will eventually lose more than gain in the leave campaign. However, you never know.

[dbelov275 11]

Lose more than gain? well, once again, i can't say for sure. but the things is it looks like all analysis are very subjective, and based on one's opinion on Brexit. Very little science is involved in those. However, now that the leave won, lets see what is going to happen.

[vladtitov151 10]

yeah. i really think so. i expect that the FTSE will drop at least 10% quickly, and Britain may renegotiate trade terms. etc..

[zdo 20]

...it makes no sense to leave the EU because they will eventually lose more than gain in the leave ...

 

just curious vlad but what will they "eventually lose more than gain in the leave" ?

thx,

 

zdo

[dbelov275 11]

I had to look for this trend. Now we see that the Brexit has actually done more harm than good. I can begin to say them all, but right now the world has recorded more than $3 trillion lost because of Uk exit of EU. lets only hope it will be of more good in the long run, cos right now, things are not good at all.