Adam Davidson, CEO of Trident Royalties, discusses offtake milestones and catalysts to boost FY24. Watch the video here.
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https://oilprice.com/Energy/Oil-Prices/Chinese-Hedge-Funds-Are-Betting-Big-On-An-Oil-Price-Recovery.html
Old news by the time it gets to us. Surprising no. At least Brent has found a platform by the looks of things. No sign of a second corona wave so far. Looking good.
Jelenko good post.
I do feel PMO has performed quite well during the pandemic but agree, 50p is where it should be soon enough
As lockdown around the world slowly eases, one thing is for sure, those people that need to travel within driving distance that used to use public transport will now drive. More holidays will be taken within driving distance rather than use planes etc.
This will be a legacy of Covid 19 for some time to come. The oil price will respond accordingly. I can see us being over $40 Brent within a couple pf weeks and what that in turn means for PMO's sp. is anybodies guess but surely at over $40 Brent it should be nearer to 50p! It's all in the charts if you can see the signs.
Good luck all.
This was posted on 21st from idiot Tanya7 who clearly has a lot of anger issues (other boards) and which on further digging I have found it was all copied and pasted word for word from OilPrice.com. Thought I'd seen it before. Talk about plagiarism!!
So any new investors here thinking she knows anything about oil pls filter or ignore. There are some Real Experts on here to learn from and not this Muppet. Just wanted to update peeps here.
Her stolen 'expert opinion' is posted below again
RE: Brent21 May 2020 01:19
US oil prices turned negative for the first time in history on Monday amid the deepest fall in demand in 25 years. A flood of unwanted oil in the market caused the West Texas Intermediate (WTI), the benchmark price for US oil, to plummet to almost –$40 a barrel after the fastest plunge in history. That meant producers were paying buyers to take oil off their hands.
1. Why have US oil prices turned negative?
The price of oil has been steadily falling across global markets since coronavirus first broke out in China at the end of 2019. Since then, the shutdown of major economies and travel routes to curb the spread of the virus has wiped out oil demand as transport has ground to a halt. But oil producers have continued to pump crude from their wells, causing a catastrophic imbalance between oversupplied oil and the biggest slump in demand for 25 years
Brent near 37 dollars this out pmo in more then profit, share price needs to go up!
Tanya7
Really, did you drink so much you lost a month and are still oblivious to the month marker in the date. Or have you been in a coma.
Get help!
Yank Alert!!
Are you living in a time warp or is your short position looking very bad , um I know which .
on crude attack again ;)
Quick bounce :)
It will spike I think, as before at lower levels, but intent is there. I think we will see 40 faster than we think.
gonna hit the buffers at $34.00 (WTI). be careful!
And we have historic 36$
36$!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Brent Futures is at 35.7 highest level since crisis starated.
Ferret- you’ve been non stop deramping PMO for months and months, Even at the very lows, so please don’t question my views as it’s been correct all along so far.
I’m not ramping, in telling you what I believe and it hasn’t changed.
JP Morgan even forecast $60 Brent Q4 this year as well, that’s higher than what I forecast.
Ferret, "this is a bull market rally off the back of injected liquidity...", can't say I disagree with you per se, but what have the past 12 years been?!! The whole thing is one big ponzi scheme / pack of cards (look at America's now, almost un-serviceable, debt and our own come to that), but that doesn't mean any collapse is imminent yet or in the near future. I have no doubt that it has to come at some point, but these things, like the virus, occur when you least expect it!!
On a side note, as it were, the amount of planes flying over my house yesterday was incredible; we normally have 1 a week yet yesterday must have been 20. Someone is going somewhere .... don't know who or where from, but flying they are.
Kraken, your either ramping beyond all reasonableness or dillussional - sorry but "everything is slowly getting back to normality," is nowhere near the mark - this is a bull market rally off the back of injected liquidity. Fundamentals will always prevail at some point, mark my words.
Each to their own belief regardless, i just do not see this as getting back to normal sorry.
GLA all IMO
Kraken,
As much as I am a holder here and for selfish reasons would love oil to be at $100, it's not happening. If you look at the long term monthly chart it is descending from that crazy high we had in 2008. It has fallen every time it hit the upper trend line.
Best we can hope for is $70 at some point but that high reduces every month until it breaks out above the trend. I would say $55-$60 will be the sweet spot when normality returns.
I strongly believe Brent will climb back towards £50 by year end, everything is slowly getting back to normality, opec deal has removed a huge amount of oil from the market and US production is falling, demand will be back to 90m barrels soon and oil storage will start declining over the next 6 months. The 2016 glut shrivelled up over 8 months last time with only a small OPEC cut even with Shale increasing.
I’m sticking to my Brent forecast that we will see $100+ During 2021