u/lamephoto

The U.S. government, including the Energy Secretary, has made statements and taken actions aimed at lowering oil prices. The U.S. government has significant tools to influence the oil market, such as releasing strategic reserves or diplomatic pressure, making it a formidable opponent for retail traders. Fighting a government actively manipulating a market is a low-probability trade. It is wiser to avoid taking a long position when such a powerful force is working against it. The government's influence may be overestimated or short-lived, and fundamental supply/demand dynamics could ultimately override their efforts, causing a missed opportunity for bulls.