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p.s. they are trialling hydrogen production using brown coal in Australia for transport to Japan.
onedb - charts are for ships which is why so many are on the seabed. It happened in 2009 and 2020. Negative interest and oil at negative prices are impossible too.
I'm only doing an 'Art' to shake people out of their comfort zone. I met a lot of pointy heads when I was in the City. I said to one guy that he was like a rocket scientist and he replied that he did particle physics at Stanford. He then lost me and Spicko at UBS in some derivative meander witha fancy name like 'delta up your jacksy'. I joined in and said we'd just completed a 'triple salcow' and he laughed and said that was at elementary level. The winter olympic were on and I'd been watching Torvill & Dean. It never existed.
because your are asking for this curve to revert
https://www.theice.com/products/219/Brent-Crude-Futures/data?marketId=5166945
The reality is that we'll be more desperate for oil and gas and Brent will blast over $100 in no time Gas I dare not think giving the bill i have just seen . We could run the risk of having to use coal again . Look at the sky high Gas prices.
That alone is making selling stocks like Enq silly ! Hence the bond price at all time highs .Even more silly is firms skewed more towards gas production .
https://www.londonstockexchange.com/stock/ENQ1/enquest-plc/company-page
We are at peak st u pid ity > Bonds high and the free cash flow firm sees its market cap tank... go figure
Gas is up 17% today and we see firms not in the Ukraine but the North Sea , see share prices tank ! you got to be kidding me
X production has a breakeven , if the underlying is higher or flying you make a profit . Not according to the herd. Which is what for years I have said . Fundamentals are just not relevant at the moment . in the end price dominates , people look at a chart . Pros or retail . Nobody fights a chart. At least not for now .
Sad but true
Why not contango? If the situation in Ukraine deteriorates I can see it happening. It isn't only economic or pandemic hits that force contango. As always it's timing and I think many have bought too early so will roll over. This can leave a glut at the front end. Let's face it, if there is a shortage it is ahead of us; not now.
I still think US prices are still too high and London and the r.o.w. takes its lead from the US.
I haven't heard any other oil CEO's comment and it is only if a specific attack that they would be forced to and anyway it is usually seen as confirmation of a weakness (he would say that wouldn't he).
The media is fluffing it up I'll agree. It's what they do. Bit of a problem to buy oil companies if you have publicly posted your allegiance to the ESG god and relinquished fossil fuel holdings.
I'm happy with my position and enjoyed today.
Some pundits are saying that Russia won't move until after the Winter Olympics. That is 4 more weeks away. I think they just love to have a date (any date) they can work around. Nobody knows for sure and that may include Putin.
No way near contango Romaron lets not get really crazy lol ! (meant in an affectionate way )
This rout is all to do with the major geo politics and nothing can explain the market cap sharp drops vs free cash flows .
Nothing else but contagion from other factors. Nasdaq itself is down nearly 15% year to date. But at this moment whether its ENquest , HBR or the rest of the oil co's they are all making money and lots too.
Pure panic and the need to steady the ship with good trading updates .
Why doesn't the CEO simply say he sees no reason for the 20% plus drop at these oil prices as operations are all good as is fcf creation ? Too simple , as geo politics . Russia / Ukraine need to tone it down a little , press too
I've got HYN down at 3/8% today and the RB still above par. I had to reduce my spread bet a little to stay in control but now have flexibility on my portfolio as I unloaded other stocks over the past weeks. I am actually long of cash and trying to time a further purchase of EnQuest. I may well miss it but happy to be in the driving seat.
Amazing on Bloomberg. BlackRock now promoting oil companies. I can see oil going to contango with all this uncertainty around. The followers of TA and the other noise are just in a SELL mood and everything follows. This was fairly well signposted TBF. Old fossils (traders I mean) occasionally have opportunities to use their experience.
The panic is all in the equity side .. panic at over $86 , can't even believe am typing this