United States Oil Fund (USO): Because of the season. It's common fo...

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Re: lexus400001 post# 1634

Friday, 08/11/2017 12:26:56 AM

Friday, August 11, 2017 12:26:56 AM

Because of the season.

It's common for oil prices to go down this time of year as vacation season ends and children prepare to go back to school. Less travel = less fuel burned.

OPEC oil output also just hit a 2017 high, so that would also cause oil prices to decline.

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OPEC itself is the only oil con game going on. An organization like that in this country would violate both antitrust and price-fixing laws.

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OPEC's oil output hits a 2017 high, another setback for its deal to pump less.

OPEC's oil output rises to the highest level since December [2016], the month before the cartel started cutting output.

A production recovery in Libya and Nigeria drives the gains last month.

http://tinyurl.com/ya4d2grn

https://www.quandl.com/collections/markets/crude-oil

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