Rhys91 due to the Fed trying to talk the dollar up as all it can do is a 0.25% interest hike. If in Sept OPEC really does start meaningful Euro oil contracts the Fed will realise the world no longer needs the dollar. But it will take time for about $7trillion foreign held dollars to come home to roost.
Saudi likely to start cutting exports down over next couple of weeks to coincide with heavier local electricity loads due to summer heat and Ramadan. Rest of Gulf will be similar so oil price should start to tighten.
Brent I'm looking at Sept/Oct, not now. From past records RKH SP seems to move at about 4p on the SP for each $ Brent rise once past $52. So that should indicate about 70-75p for RKH at $60 re Brent. See if it does work out that way.
I believe it will reach 40p to buy later today, with oil price holding nicely at 50.18 and possibly rising a tad higher later , plenty of spare cash from other oily profit takers may well nudge this up another penny or 2%.
its amazing low at current levels considering what we are sitting on IMHO
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.