This is going to be a wild and unpredictable ride…. Crude oil futures blasting! Geopolitical tensions have quickly become a primary source of market volatility.

The energy minister of Saudi Arabia says OPEC+ is ready to wait months for insights from "actual data" before modifying policies in response to price fluctuations in the crude market.

Keyword:
Months.

This is going to be a wild and unpredictable ride.

Energy.

— Gold Telegraph ⚡ (@GoldTelegraph_) October 8, 2023

Down futures just opened ~200 points lower in a very volatile open.

Geopolitical tensions have quickly become a primary source of market volatility.

We expect volatility into year-end to continue to escalate.

Follow us @KobeissiLetter for real time analysis as this develops.

— The Kobeissi Letter (@KobeissiLetter) October 8, 2023

WOW! Crude Oil Futures blasting 🚀 pic.twitter.com/v8EfZIM7nm

— Barchart (@Barchart) October 9, 2023