Why oil is selling off?

$Micro WTI Crude Oil - main 2305(MCLmain)$ I love how, we always try to find an explanation for why oil is selling off: one day it is recession fears, the next day it is futures rollover. OPEX, seasonality, lack of liquidity, EIA data, ceasefire, Saudis farted somewhere.
-The truth is, no one knows anything and I mean NO ONE!

BTW, the same can be said when oil prices go up. 

Natty is not helping at all, getting close to retesting the $1 handle again. Down over 48% YTD.
US dry production is averaging ~101 bcf/d up over 9% y/y.

Oil and natty quarterly spreads/diffs.

I am not sure "banks sold oil futures" is accurate. Banks are not involved in prop. trading. Should say hedge funds instead. Negative gamma part is correct.

but if you listen to gurus, inventories are falling, supply/demand is tight, hence fundamentals are strong.

https://twitter.com/Gugo907/status/1637822990766460928

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  • LTKalien
    ·2023-03-21
    the Saudis farted somewhere part probably holds more truth. [Cool]
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  • Jenjorjack
    ·2023-03-21
    Recession impending
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  • Yolofomo101
    ·2023-03-21
    Gd
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  • CL_Wong
    ·2023-03-21
    Ok
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  • HarryLim
    ·2023-03-21
    Ok
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  • ngmkc
    ·2023-03-21
    ok
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  • huilong
    ·2023-03-21
    f
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  • John.sw
    ·2023-03-21
    ok
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  • MarLar
    ·2023-03-21
    👍
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  • CuriousMind
    ·2023-03-21
    Ok
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  • champion6834
    ·2023-03-21
    Hi
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  • TheinHtut
    ·2023-03-21
    👍
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  • Rainy_Diary
    ·2023-03-21
    Up
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  • eldert
    ·2023-03-21
    great info
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  • SiaoKia1988
    ·2023-03-21
    Ok
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  • MQ123
    ·2023-03-21
    ok
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  • Anna79
    ·2023-03-21
    [Miser][Miser]
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  • WDnemo
    ·2023-03-21
    nice
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  • Sunflower1991
    ·2023-03-21
    Ok
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  • DonWong
    ·2023-03-21
    Ok
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