I am happy to post 3 good things about RRL providing Celtic agrees to post 3 bad things. He needs a damn good purging and I think that might be the way to achieve it. I want the share price to go up, but I have been mislead too often to get carried away with an oil rig or two leaving port.
I guess filling the board with off topic, sports, gig dates and of course using it as a personal calendar for meetings, then introducing blow by blow shipping forecasts, is another way to keep rampers happy and hide from real articles.
Oil prices fell towards six-year lows on Monday on data showing the economy of Japan, the world's third-biggest oil consumer, contracted in the second quarter.
The global oversupply picture was exacerbated by another weekly jump in U.S. oil rig additions on Friday, hinting at growing production, and news that Oman produced a record-breaking 1 million barrels per day in July.
U.S. crude CLc1, or West Texas Intermediate (WTI), for September was trading 45 cents lower at $42.05 a barrel at 1348 GMT (0948 EDT), close to its lowest in more than six years.
Brent futures LCOc1 for October briefly reached an intraday high of $49.44 a barrel on news that Kuwait's 200,000-barrels-per-day Shuaiba refinery had shut following a fire. The contract traded just below Friday's close by 1355 GMT (0955 EDT) at $49.18 a barrel. The Brent September contract expired on Friday.
Over the past two weeks, U.S. crude prices have fallen by more than 10 percent on U.S. supply concerns. Brent has fallen by around 4 percent.
"We have seen Brent swing up and down over the past two weeks because of a lack of consensus about where oil should go directionally," BNP Paribas energy commodities strategist Gareth Lewis-Davies said.
may not get the cure it needs. An expected drop in crude prices to $30 to $40 a barrel this fall might not be enough to balance global oil markets, IHS Energy's Jamie Webster told CNBC on Monday.
U.S. production needs to fall by as much as 1 million barrels per day (bpd) for the U.S. to balance markets, according to IHS. But such a move would require U.S. crude to trade at or below $45 a barrel for two consecutive quarters, and Webster doesn't see that happening.
"The problem with this is the market, the financial guys, are still quite bullish, and I'm not sure they're going to allow it to go for two full quarters to give us the kind of cure we need in order to balance this market," he told CNBC's "Squawk Box."
Webster made his comments after a CNBC survey found that a majority of analysts and traders now sees oil falling to $30 to $40 a barrel in the near term. http://www.cnbc.com/2015/08/17/
MO, with respect I have not posted much lately and Bricket has not posted a great deal. Yet there are two prolific poster who posts constantly about ship movements and you say nothing... MO why don't you give that some consideration....
CH likes his charts... Saltdome prefers his. RTN loves all charts equally.
There have been buys and sells (aren't they one and same), some folk love RRL some don't. How's about a truce day this week. CH can post 3 things bad about RRL Bricket can post 3 positives and we can go from there maybe have a debate on board rather than sniping.
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