Reuters' Influence on the Oil Market: A Case Study

Reuters' Role in the Oil Market

Reuters has been accused of manipulating the oil market, allegedly on behalf of various undisclosed deep state interests. This manipulation is said to be successful every time it is employed.

Recent Example of Market Manipulation

Last Friday, as Brent crude was on the verge of extending its gains above $80, forcing oil CTAs and other momentum-chasers to close out their near-record net short positioning, Reuters published a report. This report, allegedly designed to manipulate the oil market, aimed to suppress the price of oil and reverse upward momentum to prevent a potential short squeeze. The report cited six anonymous sources claiming that OPEC+ is set to proceed with a planned oil output hike from October. The reason given was that Libyan outages and pledged cuts by some members to compensate for overproduction counter the impact of sluggish demand. This reasoning was criticized as being flawed, as the key factor for oil prices - a surge in Chinese demand - was not present.

Immediate Impact on Oil Prices

As expected, the price of oil dropped instantly following the publication of the report. This was seen as a welcome development by those supporting Kamala Harris' presidential campaign, as it could lead to lower gas prices. However, it was also criticized as being a result of manipulation by deep state forces attempting to keep gas prices low ahead of the elections. The report claimed that the plan to increase production remained in place due to the loss of Libyan output tightening the market and hopes that the U.S. Federal Reserve would cut interest rates in mid-September. This was again criticized as being flawed reasoning, with expectations that OPEC+ would issue an official denial.

Reuters' Report Reversal

Four days after the initial report, Reuters published a contradictory report stating that OPEC+ is considering a delay in the planned output increase next month, as oil prices had hit a nine-month low. This was seen as a direct result of Reuters' own reporting. The report also stated that last week, the group looked set to proceed with a 180,000 barrel per day (bpd) hike in October, but market volatility from oil facility shutdowns in Libya and a weak demand outlook had raised concern within the group.

Summary of Events

In summary, the oil market is back to where it was before Reuters' initial report, but with momentum now crushed, oil is trading at the lowest price of the year. This ensures even lower gas prices ahead of the election, as allegedly ordered by the deep state.

Bottom Line

These events raise questions about the role of news agencies like Reuters in influencing commodity markets. The case of oil price manipulation highlights the potential for news reports to create market volatility, even if they are later refuted by the same agency. This raises ethical questions about the role of news in financial markets and the potential for manipulation. What are your thoughts on this matter? Share this article with your friends and let us know your views. Don't forget to sign up for the Daily Briefing, which is delivered every day at 6pm.