What Do Traders Want to Hear From Opec?

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Dec. 2 (Bloomberg) -- Bloomberg's Greg Bender discusses the price of oil on today's "Futures In Focus" on Bloomberg Television's "In The Loop. (Source: Bloomberg)

Endor.

Not too long ago people were saying opec does not matter, but clearly it does.

Most people think that forecast will be unchanged.

Any deviation from that will cause price volatility most likely, especially given the fact that brent and wti are down over 15%. the markets are oversold, so there is definitely potential for a rally.

Potential for a rally.

The market did not react all that much in a sustained way to the news of the nuclear pact.

Why is that?

Short-term traders saying business as usual.

The trend in wti has been down, and that is exactly what happened.

You are a former crude oil trader.

What news would you want to hear?

Look at the forecast for outcasput.

Beyond that, what kind of information will we get from opec on how they will deal with the potential increase from supply from iraq, iran and libya in 2014? if there is any indication that they are worried about that and there will be supply cuts, you could have a price increase.

What is the options market telling us when it comes to where oil is headed?

Oil vix ) the lowest level ever friday.

I think it tells us what options traders are thinking 30 days out.

More importantly, how are they pricing in any tailwind events?

Friday i seemed pretty complacent.

A snapback this morning.

It is up three points to 20%. i think people are more focused.

Holidays are over and people are looking for wednesday's meeting.

If you are trying to make money in the next two days before the wednesday meeting, how would you do that?

Looking at $90. if we close before that, there is air in the market.

About that, what we are focusing is a potential beat bear trap.

Prices dip below and went back up.

Traders may be caught short at $90. any rise above $96 coming you could see a rally above $100. greg bender with today's futures and focused.

On the markets once again in 30 minutes.

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This text has been automatically generated. It may not be 100% accurate.

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