I must say I am slightly baffled. Although the RNS was by no means stating 'we 100% have oil' it certainly was not bad news. Secondly buys are outweighing sells today yet we are still down. Is this due to the drop in oil?
Oil cos are still in the Brent price grip which will last until August. Looks like US/Saudi may be nearing agreement for import of more Saudi heavy crude and US in turn exporting some light shale crude to partially replace falling Brent production. Also the market in London is approaching the 'sell in May and go away' syndrome. As to FOGL today will shake out many short term gamblers.
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