The price of oil now that Qatar is being cut-off should rise, at least that’s what short-term oil swing traders are betting. Bloomberg reports that Saudi Arabia, Bahrain, the United Arab Emirates and Egypt have suspended air, sea and land travel to and from Qatar (link to Bloomberg report above).
Price of Oil Now
The price of oil now is up only a little but I see the swing trade setup that traders are going for. Better than swinging USO or WTIC, liquid natural gas might be the better trade as Qatar is the world’s largest exporter.
Liquid natural gas producers like Cheniere Energy are catching the bids in early trading.