Watching Crude, Gold For December Positions
Today’s video will focus on what drove crude down in November. The short answer? COVID and crude have a negative, or inverse, relationship. The uptick in COVID cases is what drove crude prices down.
What’s going to carry into December from this November narrative?
Check out today’s video to see what we are looking at in Futures for the last month of 2021.
It’s very likely going to be a coordinated strategic oil reserve release by the U.S., India, Japan, and China. This will no doubt be met with the Organization of the Petroleum Exporting Countries (OPEC) curbing production. As we see a supply narrative (meaning increased supply with these releases) it will very likely be met with an increase in demand, or at least a shrinking in supply, which is quite bullish.
