Today I increased my position in WTI at nearly 90 dollars.

CN
Phyrex
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9 hours ago

Today I added to my position in WTI at nearly 90 dollars, and my Brant sell order is at 95 dollars; I will continue to wait a bit, and I just raised the margin for both WTI and Brant to 120 dollars, which is the highest price point during the recent conflict between the United States and Iran.

The last time at 120 dollars was during the Russia-Ukraine war in 2022, and the historical high for WTI is 147 dollars, while the highest point in the last 18 years is 130 dollars.

My view on oil has always been consistent, summed up in four words: "shorting at high levels." The more the United States controls the war's trajectory, the less it wants to provoke a more comprehensive conflict, which offers no benefits to the United States; the current situation between the United States and Iran is a maximum tug-of-war.

The focus is on Hormuz; the United States hopes to force Iran to give up its "jurisdiction" over Hormuz as soon as possible, but for the theocratic state of Iran, this tactic may not be effective. Thus, we cannot rule out the possibility that oil prices may rise to 100 dollars.

If it goes above 100 dollars, I will increase my short selling efforts.

@Gate Crypto, US stocks, Hong Kong stocks, Korean stocks, gold, CFD, one-stop trading for predictive markets


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