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High 20 percent transit fee may deter oil traders, Kevin Green warns

High 20 percent transit fee may deter oil traders, Kevin Green warns
Transit fee poses risk to oil market

Kevin Green raises concerns about a proposed 20 percent transit fee, arguing it is too high and would discourage participation.

He suggests that such a fee could have a demand-destructive impact on the oil market and notes the uncertainty surrounding the President's response if companies push back.

Green has previously reported on a potential inverse head and shoulders pattern forming in the ES, alongside indications of slowing activity in the commodities sector here. He also noted ongoing strength in the cattle business despite identifying bearish divergence for the S&P 500 on the monthly chart here. These observations come as the market weighs the implications of a new transit fee proposal.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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