Crude Oil Torn Between Iran Election, Coronavirus And G20 Summit

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Talk Markets: Crude Oil chart created using TradingView

CRUDE OIL OUTLOOK: BEARISH

  • Crude oil prices may rise on Iran election if hardliners fill parliament, stokes political tensions
  • G20 summit may bruise crude oil prices if officials send chilling message about growth outlook
  • Coronavirus outbreak could trim gains in crude if analysts forecast a global slowdown from it

Read More …

Opinion: Three bullet points tell four different outcomes on the lifeblood of the global economy: oil.

  1. Iran hardliners? A shopper in central Tehran laughed when asked if they had heard the results, saying: “Why should we wait for the result? It is a foregone conclusion and has been fixed in advance.”
  2. G20 Summit is not scheduled until November 2020
  3. Coronavirus is the potential game changer. The Asian economy is hostage to a massive slowdown of tourism and supply chain interruptions of everything from clothing to semiconductors to prescription drugs
  4. The Russian economy is heavily dependent on the price of oil. A disruption in travel and shipping could have a disastrous effect on the already weak economy

From the article:

Financial markets continue to be held hostage by fear over the spread and impact of the and shipping coronavirus on global growth and how it may influence China’s economic dynamics. There are premonitions that a slowdown in Asia’s powerhouse could ripple out across the region and further disrupt supply chains and derail the recovery in global growth that was just beginning to show signs of stabilization.

There is no shortage of sensational coronavirus headlines this morning calling for everything from the collapse of the global economy to the apocalypse.

Here is what we know:

The third horseman of Revelation 6:5-6 brings a global financial collapse that follows a series of prophecies that every blood-bought Christian must keep in mind when reading the news

  • Revelation 3:10 – Jesus promised the faithful church that they would be kept from (Greek ‘ek’ out of) the time of trial
  • Revelation 4:1 – John is taken up to Jesus in the throne room, modeling the rapture
  • Revelation 6:1-2 – The False Christ on a white horse deceives the nations
  • Revelation 6:3-4 – Peace is taken from the earth

Revelation 6:5-6 – Hyperinflation brings the global economy to a standstill for the average person, only the wealthy (oil and wine) are unaffected for a time.

All we can do on this side of this rapture is pray and watch.