🔥ATTENTION🔥
💥OIL plummeted yesterday, which BENEFITS the STOCKS
Why do we care about closely monitoring OIL and what are the EFFECTS it generates⁉️
🛢Oil is the most used RAW MATERIAL for INDUSTRIAL PRODUCTION
▪️When oil prices DROP, PRODUCTION becomes cheaper, which increases the PROFITS of COMPANIES
▪️It is no coincidence that bullish markets for #Bitcoin and the SP500 occur with a downward trend in oil
Why did oil experience a GREAT DROP TODAY⁉️
▪️Several members of OPEC+ (Organization of the Petroleum Exporting Countries) are pushing for the group to approve a new accelerated increase in oil production for June
▪️The more production, the worse for the price
Why did Trump make "LOW OIL PRICES" a priority in his political campaign⁉️
🔸The price of oil directly affects the price of gasoline/petrol
🔸Promising low prices means promising more money in the voters' pockets.
📍Additionally, they are a KEY component in INFLATION and less inflation could lead the #FED to CUT the INTEREST RATE
