By skyforbes 
I bought a bunch the last two days. These low prices are purely political. Turmp is close with MBS. They have been trading geopolitical favors for a while.
Trump wants oil low, inflation down, MBS has been pumping despite the low prices. Usually this is when OPEC+ will turn it down.
China has benefitted from the Venezuela, Russia, and Iran sanctions for years buying all their sanctioned oil on the discount. It’s not a huge amount, but taking their Venezuela 🇻🇪 production off the market will cause a disruption in this “private” market they have been stocking up on. If China has to start buying in the open market, oil prices are pretty inelastic on the short term.
My average costs is $56.55 after averaging down some more today. Still have some limit orders if it drops more and will continue to load up.
Quick math but I I own (65 contracts x $6 07 x 9x leverage per contract )
That’s like $355,000 of oil futures. It’s a lot of fun with the leverage!
1% in either directions and it’s like $5-10k. 🥭 might go on TV, nuke the Venezuela tankers, and we see a 2-3% movement no problem.
This is any easy play. I have 3 months to wait this this out for a $20,000-30,000 gain if it hit $60+