Ahhhh... the magic of media sources permanently available to everyone!
The overabundance of news not always verified... even by the greatest in this world (like the Wall Street Journal for example... side ^^ I won't be shy!)
These fake news that can ruin the lives of traders...
Fake news knowingly designed or stupid fake news that takes on a considerable scale and it becomes the Frankenstein that escapes its designer...
This week, I didn't think I would post again because the oil news was closed... but when there's more... there's still some !
Yesterday while I was quiet on my trading managing my BRENT positions, 3 p.m. the macroeconomic news was rather calm, we had just passed 2:30 p.m. the announcement of the jobless claims in the US... the number of job seekers was FINALLY increasing, which reassured traders that the FED could take a break, at least temporarily, next Wednesday in key rates...
And there... out of nowhere, an "official" document mentioning that the United States of America will ease the sanctions against Iran for export of its petroleum products ( let's remember that since 2010 the USA decided to ban Iranian oil... it's been 13 years! )
And then whack... the BRENT price is unscrewing...
Well, I thought I was going to do my cushy trading day... I was spoiled in terms of action!
It took 3 hours for Washington to deny this false document and fake news and for the price of Brent to rise.
-4$ in the teeth anyway...
And found almost +3$ within 2 hours.
This fake news was really elaborate compared to the previous ones... because I have another one to present to you, a little patience.
I was saying, really elaborate...take the time to reproduce an official document in order to divulge the information in a credible way...hat.
WHO is the crime for?
Obviously a group that would like to see the oil market crash... in the front line we could think of the USA!
Well... it's like them leading a fierce fight against OPEC and their production quota cuts...
But if it was the USA that created this document... do you think Washington would have denied it in 2 hours? Naaaaa... or else they really don't communicate with each other!
By the way...would have been Washington, let this fake news go around a little longer than BRENT crashed really low and all the long trade sellers take their stop losses... and at the same time bother Saudi Arabia a little more, which there would have been "ouching"...
No, they bothered and denied it right away.
So WHO my dear Watson?
Personal... and it's really personal, I'd rather opt for a hedge fund... but then a large group of the Black Rock style... . who may have had too many short trade positions and wanted to get rid of them once and for all before the driving season...
But above all, who wouldn't have appreciated Prince Abdelaziz's tone at all when he threatened short sellers with bringing down the price of oil.
It would be a kind of revenge in the form of a dish that is eaten cold... but this would be more of an "aperitif" than a real dish.
In short, it's only speculation... but the crime must serve someone who would like to see the price of oil crash and who is clever enough and smart and with connections to craft that plan.
I remember very well another fake news, and here from the Wall Street Journal, who always cites reliable, internal sources but who want to remain anonymous... and after they s are surprised not to have accreditation to come and cover the OPEC meeting in Vienna...
The famous Monday, November 21, 2022... the WSJ had the good idea to write that Saudi Arabia was considering leaving the OPEC group! While Saudi Arabia is precisely the "heavyweight" of this cartel...
Neither one nor two... the price of oil crashes by -5$...
It took an emergency press release from Saudi Arabia to debunk this outlandish rumor... and oil was back in its range as quickly as it was. had lost.
End of story...
Whether it comes from prestigious well-established newspapers, or word of mouth in "insider elite" mode... rumors have been circulating ever since the dawn of time and will continue to do so for a long time to come... see more and more in view of the flood of media news that we are experiencing.
What can be done?
NOTHING... apart from trying to cross-check suspicious news with always news from other sources...
And above all avoid reacting to the slightest news but rather act in conscience and without the emotional that overwhelms us.
It's quite a learning curve.
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