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Rebel Capitalist News

News: Shocking New Moves In OIL Can Only Mean One Thing...

Rebel Capitalist News

George Gammon

Business, Investing

4.71.1K Ratings

🗓️ 26 October 2023

⏱️ 11 minutes

🧾️ Download transcript

Summary

Check out my private, online investment community (Rebel Capitalist Pro) with Chris MacIntosh, Lyn Alden and many more for $1!! click here https://georgegammon.com/pro

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✅ Check out my private, online investment community (Rebel Capitalist Pro) with Chris MacIntosh, Lyn Alden and many more for $1!! click here https://georgegammon.com/pro

 

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Transcript

Click on a timestamp to play from that location

0:00.0

Hello, Rebel Capital, so hope you're well.

0:02.0

So we've got some big news in the oil market.

0:06.2

And for a lot of you watch my videos,

0:07.8

you remember when we, when we had the conflicts in the Middle East

0:11.9

start, oil prices just skyrocketed. I think they went from 83

0:16.4

just straight up to 88 or 89. And on this channel we were talking about how that would likely come down in the next two weeks and how I wouldn't be surprised

0:27.0

that the price was actually lower in two weeks than it was prior to the conflict starting to begin with.

0:35.0

And this is exactly what we're seeing right now,

0:38.0

but we've got to ask the question why.

0:40.5

It's not just the fact that there was probably a knee-jerk reaction and now that people have seen what's happening or what's playing out in the Middle East that now they're not concerned anymore.

0:51.0

If anything, the concerns have escalated as to what's happening in the Middle

0:56.2

East. So that can't be why the price of oil has come down and come down dramatically over the last couple days.

1:03.9

Let's get right over to Zero Hedge,

1:05.7

so you can see what I'm referring to with some charts.

1:08.9

And let's first and foremost, let's see, two.

1:13.2

Well, this is a chart going back to,

1:18.8

looks like September 26.

1:21.2

And obviously here's 60 minute chart and look at these moves since the

1:28.2

20 seconds so just over the last call it three or four days.

1:35.1

Oil has gone from almost 90 dollars,

1:40.0

straight down to 82.9, which is where it was when they took this snapshot.

1:48.0

And last time I checked on CNBC, it was right around 83, so it hasn't bounced that much. But I mean a huge move down. We're talking

...

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