Oil trader who caught $64.60 WTI surge reveals why geopolitics beats algorithms
Key Points
- Oil prices surged to $64.60 due to Ukrainian drone strikes c...
Oil just hit $64.60 per barrel, and suddenly everyone's an expert on Ukrainian drone strikes and Federal Reserve tea leaves. While most traders were still figuring out what WTI stands for (hint: it's not "Why Trading's Impossible"), the smart money was already positioning for this move.
The math here is deliciously simple: Russian energy infrastructure keeps getting targeted by drones, which makes oil traders nervous. Nervous traders bid up prices. Meanwhile, Fed Chair Jerome Powell basically winked at Jackson Hole, suggesting September rate cuts are coming, and now 84% of market participants...
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