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Epip and you believe everything posted on these forums lol
Nah, I'm marvelling over your thought process when it comes to making investments! It leads me to the inescapable conslusion that thinking and analysing is over-rated when investing!!
Epip you ain’t having a tantrum are you ? Lol Where’s the Friday feeling ?
Doh, I wonder what that forced quarantine in government mandated hotels for red list countries is all about? Covid hides for 14 days and pops out as soon as they're out of quarantine and starts spreading - nice!!!
Let's ban incoming travel to the UK from all red-list countries and watch jet fuel demand shoot through the roof and take Brent with it. That's a mighty fine investment thesis for buying oil shares
Is it robots moving SP daily so sensitive?
But it almost completely lost connection to oil price if it’s 50 or 74 usd.
Lol well that little spike up seems to have caught the traders out!
We might finish blue at this rate!
Doh ! No problem letting more carriers into the country now it’s already here, no point trying to keep it under control then !
****** to it
Doh KO!!! The time to close the borders to India/put them in the red list was a long time ago when there was no community spread here and good old BJ was dragging his feet over putting it in the red list. What practical benefit would 'closing the boarders to India' - whatever that means, give us at this point in time?
Brent will be back on an upswing soon enough when the current pittance of profit-taking is exhausted and stocks regain their footing from the current taper tantrum.
Probably catch everyone out and Brent will bounce back above $74 this evening
Got to hope the vaccine is worth it…..
This so called Indian variant is grabbing the headlines again, cases up over 80%, yet we still keep the boarders open to India lol
Knife edge! You should be a journalist with sensationalism of that level.
Today can go do one. Its not personal on enquest its everything.
Oil is on a knife edge IMHO could see a reasonably big move down today if it doesn’t hold here
reckon we will be around 18-21p until we get additional information on the placing....
I thought we’d seen the Enq of the teens with Brent above 72 and the refinancing agreement done.
Yes around 18p looks like good support IMHO
We have gone up from 15 to 22p pretty quickly so nice healthy profit taking drop back before the next rise.
We have doubled in the last 6 months and I don’t see any reason why we can’t do the same again in H2 for end of year at 40p.
looks like sub 20 now....
anyways hopefully more cheap ones to buy in the 18's
The Saudi's certainly won't let on how much they can ramp up supply - they will always hold the market in suspense - all the while US production cannot swing the market to over supply they hold all the cards and will carry on walking up the price of crude oil - hence my belief that the spike will come this year and it will be very much like the summer 2008 spike.
You do have to wonder what level of truth there is in these OPEC numbers?
Is it actually 6m? How much non-compliance with quotas is going un-reported?
Is there much swing production left?
Can the Saudis really ramp things up to whatever they claim they can (used to be 15m I think?)
Will much extra supply actually enter the market?
Are the Iranians already "cheating" and exporting large amounts via illicit channels?
How many private jets loaded with bullion have flown in to Tehran?
Etc
I want a higher Brent price as much as anyone, but I do worry if it gets too hot, they things could get very messy, very very quickly.
$80-$90 would be immense.
Morning Jan, Its possible that depletion is a factor and its possible that they have less in reserve than what they report but the market has to believe what Opec report.
Most are probably cheating as well but we wont know for sure until countries are shouting at them ' Where's our fracking oil we ordered last month' !
Everyone could already be pumping flat out as far as we know and it only leaves Iran's supply in reserve !
KO,
I don't buy that 6m bpd from OPEC. Those numbers are from a few years ago. Natural depletion and a lack of investment have substantially reduced that. OPEC have been playing politics .
Max 3m krakenoil. Wait and see. IMHO .
I think you are over analysing the current situation Kraken - Brent simply went up too fast, too quickly - its just pausing for breath.
Just shows the market is still very sensitive towards over supply, We still have around 6million barrels in reserve that can be bought online quickly so until that figure drops down to around 3million traders will be nervous going long on oil and oil stocks.
Q4 will be when we see things tighten up nicely. providing the US behaves.
Hold for Gold
Yes, but seems to be a correction rather than a new trend down - maybe it will move sideways for a while before continuing the upward trend - certainly not a time to sell.
RSI has been moving to overbought for several days, the fact that the correction has only just come shows resilience, despite increase in US production back to May2020 levels.
Not good chilting.
Reckon we might see short term drop below sub 20p? you said RSI was getting into overbought territory didn't you?......