Oil prices dip after Iran attack on Israel - BBC News (www.bbc.co.uk)
from Rapidcreek@lemmy.world to world@lemmy.world on 15 Apr 2024 11:04
https://lemmy.world/post/14315941

#world

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FlyingSquid@lemmy.world on 15 Apr 2024 11:12 collapse

So because an oil embargoed country had an almost completely unsuccessful attack on a country with very little oil, it hand an effect on oil prices?

I do not understand anything.

qprimed@lemmy.ml on 15 Apr 2024 11:24 next collapse

at this point its just bots trading with bots trading with bots. its bots all the way down.

Rapidcreek@lemmy.world on 15 Apr 2024 11:31 next collapse

Though I’m trying not to respond to you, it’s a good question. I don’t think anybody, including me, can explain how global oil markets really work. Those that can are making money right now and aren’t here. I’ve done a little spot market trading, and it is very reactive. Traders overprepare for events and always in worse case scenarios. I believe they overprepared for middle east war, and Iran’s attack was such a failure that they all reversed at the same time.

eran_morad@lemmy.world on 15 Apr 2024 12:11 collapse

The reasoning, if any, is probably that Iran is utterly incompetent and of less consequence than previously imagined.

rayyy@lemmy.world on 15 Apr 2024 12:55 collapse

Iran is utterly incompetent

It’s not so much about Iran’s incompetence, rather more about the west’s superior technology that destroyed Iran’s and Russia"s best weapons.

eran_morad@lemmy.world on 15 Apr 2024 13:10 next collapse

Competence is all relative.

kender242@lemmy.world on 15 Apr 2024 16:20 collapse

Last I heard Iran was aware the weapons it sent were going to be intercepted. Kinda a saving face thing.

Listening to Ryan from https://www.ryanmcbeth.com/