Brent Spikes On Saudi Pipeline Rumor
Brent spiked higher than $125 on information of an explosion of a Saudi pipeline. It turned out to be just a rumor Once that was clear the price dropped several dollars. There is a message from the price movement. Traders and speculators have migrated from an orderly buying and selling of…
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Brent spiked higher than $125 on information of an explosion of a Saudi pipeline. It turned out to be just a rumor
Once that was clear the price dropped several dollars. There is a message from the price movement.
Traders and speculators have migrated from an orderly buying and selling of crude to one triggered moment-by-moment action based on a stream of information, some of it true and some not. Until global factors like the Iran oil embargo and OPEC plans are resolved the quick swings will continue.
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
