We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
Day.yeap me too
billy, lets just say i have a relative whos very highly placed and involved in controlling our own unmanned military drones so know what that sort of tech is capable of. im also a cynic at heart :)
Day.see I'm not alone in thinking that you have your suspicions too
QZ ye shame bout SXX I put £3k in it for me grandchildren I had no intention of trading it so it can just stay there I knew it could be a risky one as they’ve been having big funding problems.
I really feel for the pot sids that have most of their pot in there
the holes in the storage tanks shown on the Yank photos certainly look a bit to 'round' to me - remember those cruise missiles in Iraq that used to punch perfect holes in buildings. Surely an explosive drone would have a different effect?
Summats not right I'm not buying a thing now
Wouldn't suprise me if this drone attack wasn't self inflicted to drive up oil price Saudis said they wanted/needed $100 a barrel
Craig a market crash is on the cards patience a war will crash it and iran seems to want one
And trump wants big interest cuts all good for gold
The attack is a game changer as could cause markets to slide as well. Fuq knows
Think trump is under pressure to keep his gob shut
I wonder if Trump will put spanner in the works for trade deal at moment cause if they make headway oil will rocket even more. Worth considering
01 : till fed release results consensus is .25 cut that’s good for gold
days
11 :
hours
22
minute
2%
Consensus
2.25%
Previous
£6 ken? I'll sell my holding hopefully at that
Don't get why Gold shares so held back Fed decision I assume
Oils on the move up again almost up $2 barrel from uk close 4.30 yestrrday
Saudi oil production may take months to recover fully
Three people briefed on the latest damage assessments said on Monday that Saudi Arabia's oil production could take months to return to full capacity, potentially thwarting efforts to calm the market, report David Sheppard, Anjli Raval and Hudson Lockett.6 hours ago.
Billy don’t look like BP going down under 500 now, I recon another 4% up again tomorrow maybe back to 600 in a month.
Myles McCormick 14 HOURS AGO
‘God’ speaks
Andy Hall – arguably the most successful oil trader of his generation – has given his insights on the weekend’s developments exclusively to the FT.
Over a near 45-year oil trading career, Mr Hall gained a reputation for landing on the right side of some of the biggest bets in the market’s history.
He earned the nickname “God” in 1990 when he made an incredibly risky bet on the price of oil ahead of Saddam Hussein’s invasion of Kuwait – the last time crude spiked as much as it did on today’s open.
Mr Hall shut down Astenbeck, the world’s largest energy hedge fund, in 2017 but remains a keen follower of the market.
Here is what he had to say this morning to the FT’s energy editor David Sheppard:
Obviously this is a huge development. The loss of production is comparable with that during Saddam’s invasion of Kuwait. An SPR release in the US isn’t going to help offset it much as US crude export capacity is maxed out and opportunities for import substitution are very limited.
Ironically, the Saudis have run down their own excess crude/strategic inventories in recent years and these now appear to be at multi-year lows if published data are to be believed.
OPEC “spare capacity” consists primarily of Iranian production constrained by US sanctions. It seems unlikely they will be lifted in the current circumstances! A meaningful production response elsewhere would take years even for US shale which has anyway seen it’s production growth start to roll over and would quickly encounter infrastructure and other constraints.
This attack underscores the vulnerability of oil production facilities in the Middle East in particular and the world in general. All the tens of billions of dollars the Saudis have spent on weapons could not protect them from a dozen or so low tech drones. Asymmetrical warfare indeed!
It would seem the oil market needs to not only price in the current supply loss but also a higher risk premium for the future. On the other hand, the apparent fragility of the global economy will now be further tested by an oil price spike.
Buckle up!