While you were sleeping, George Soros declared the world’s financial system would implode today.
This is the index futures – they trade before the markets open and generally indicate where prices are headed at 9:30 ET. The futures can also trigger people to dump “market on open” orders to rush out the door first, which can then trigger stop loss orders to kick in.
WTI (Texas) crude dipped below $33.
The day that Congress passed the change to allow US crude to be sold internationally, the price difference between US oil and Brent (North Sea) crude vaporized. Back in August, there was a $5 a barrel difference.
I think the underlying reason is not George Soros, but the recent “we think we can control the climate” treaty which is essentially civilization committing suicide. That will show up in many different ways, like China exploding a hydrogen bomb, pretending that North Korea isn’t its puppet.