Search ForexCrunch

The oil market is a big focus with plenty going on in the background driving prices on a geopolitical front. Today, the price of oil sank, partly due to technically overbought conditions and supply at the top of a rising wedge formation, but the gas was lit when Trump made the following statement in a Tweet:

@realDonaldTrump

Spoke to Saudi Arabia and others about increasing oil flow. All are in agreement. The California tax on gasoline is causing big problems on pricing for that state. Speak to your Governor about reducing. Economic numbers, 3.2% GDP for what is often worst quarter, looking good!

However, OPEC Chief Barkindo has said that he hasn’t spoke with Trump and Saudi officials also said  they haven’t discussed lowering oil prices with him…