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Oil just took another leg up ???
For every $3 rise, like today, we are adding $250,000 per week to our bottom line, or +$13,000,000 pa to our $355m CASH we had on 25th March 2020..... remember NO DEBT too
Once $40/barrel is reached that would add +$40,000,000 to our bottom line from today's opening POO ....
Oh dear .... not only missed the boat here, but on other share you are waiting for too ..... new avatar, same old !
Missed the 500 mark, spread seems to be 25-30p on iii, waiting to buy in but hopefully closer to 6 when the storage is full, the US skips summer driving, I fear outlllok looks towards a lower oil price, at least this trime trump shouting off got a market rally he tends to sink it, GLA
Beware of just another spike in this long drawn out saga. Trump just shooting his mouth off about the ideal outcome, before anybody has even started discussions - oil parties have just agreed to start discussions. Realistically, SA will demand the economically unviable producers will have to cut more (UAS), there will be a short term stalemate until reality hits home - a 20 - 25m barrels a day demand drop for at least the next 2 months. Trump may add import tariffs, reduce sanctions on Russia etc, etc, much for them all to discuss, negotiate. Difficult to predict how long this will take, or whether talks will fail if any side is not prepared to give up what the others want. Oil could drop or rise by $10 in a flash as news breaks one way or another. Feels like Russian Roulette to me!
https://oilprice.com/Energy/Energy-General/What-Really-Caused-Oil-To-Rally-By-25.html
https://www.theguardian.com/business/2020/apr/02/oil-price-rebounds-on-hopes-saudi-arabia-and-russia-will-reach-
deal
Eventually, something will be sorted, with all sides having to give up more than they would wish. Any effect on North Sea producers? Well … … …
Alternative view - Trump would not have said this if this outcome was not basically in the bag! Brent rising strongly as I post and so RRE share price. Agreement expected after Monday's talks?
Do you feel lucky punk? I'm sat on my position here and not 'gambling' any more, not trying to trade it. Having said that, if talks stall and share price drops back into the 500's, I deem it worth the risk to stuff more in here! Not prepared to either sell or add at this price - mid to high 700's, too easily go either way by £2 - £3 a share.
"Who knows what the heck Trump.." does he ?
Yup, brent surging at the moment +8.5% Finally a bit of pleasant viewing. I'm enjoying the LLOY shares I sold recently I placed in here at 560.
OPEC+ are meeting Monday
shorting oil or RRE into the weekend is lunacy. Who knows what the heck Trump is going to say next...
I can see a bit of short closing before the weekend, probably not wise to be short and can see some profit taking.