WTI oil is short for 1 or 2 weeks, also goes for Long for next 3 months, it depends on the Biden's administration decision on energy and how cold the winter will be, I think Biden's administration has no idea about oil and they do not know How do big players play in this field? I see $ 90 to $ 100 in the first quarter of 2022.
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The Biden administration has asked some of the world’s largest oil-consuming nations – including China, India, and Japan – to consider releasing crude stockpiles in a coordinated effort to lower global energy prices, according to several people familiar with the matter. China’s state reserve bureau said on Thursday it is working on a release of crude oil reserves although it declined to comment on a U.S. request to the world’s top consuming nations to tap stockpiles to ease global energy prices.
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