An Investment Expert
Matt Badiali is currently the Chief Resource Investment Expert at Banyan Hill Publishing. Matt Badiali is a graduate from the Penn State University with a bachelors degree in Geological and Earth sciences. He holds Masters in Geology from Florida Atlantic University and a Dissertation Ph.D. in Sedimentary Geology. In July 2005, Matt Badiali started working for Stansberry Research as a Geologist and later on in 2017 he was appointed as Chief Resource Investment Expert of Banyan Hill Publishing. Follow Matt on Twitter.
In one of his latest articles, Matt Badiali talks about the reason why oil prices didn’t really after Trump announced powerful economic sanctions against Iran. Matt says that if words or confrontations turn into actions, then prices will rise, unfortunately, the economic sanctions on Iran wasn’t enough to turn oil prices positive. Iranian production wasn’t significantly affected by pulling out of the nuclear agreement. For this to work, Trump has to convince other allies to also impose economic sanctions. Gerald Bailey who is the president of Petroteq Energy Inc. expected an initial dip in oil prices as it was not clear whether Trump’s decision was going to affect businesses or not. Europe was not going to back out as she is a great trade Allie with Iran and Iran buys a lot from her unlike the U.S.But in the long-run oil prices will rise as the U.S decision will result to less oil production. Matt Badiali, senior research analyst at Banyan Hill meanwhile said that it wouldn’t be surprising to see oil prices rise steadily and react quickly to the upside of any bad news.
June West Texas Intermediate crude oil US: CLM8 fell by $1.67 to settle at $69.06 a for a barrel. On the other hand, International benchmark July Brent crude UK: LCON8 fell $1.32 which is nearly 1.7% to settle at $74.85 a barrel on ICE Futures Europe. Matt Badiali says that for now, the current oil price fluctuations have reflected a “buy on the rumor, sell on the news” reaction and that he expects to see quick price hikes and slowly falls for the next six months.
Among other energy products traded on Nymex, June gasoline US: RBM8 fell 1.1% to $2.111 a gallon, while June heating oils the US: HOM8 lost nearly 1.3% to $2.158 a gallon. June natural gas US: NGM18 fell 0.3% at $2.732 per million British thermal units.