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.
Sold 1,686 shares today - still holding over double that for a nice profit. Always good to slice and free ride it when you can.
Booking the Maldives next year for a month and a nice tour of Asia/Australasia including the Islands, woo!
Following on from my previous comments:
For those that watch the EMA indication - which I find useful at times but usually a bit late - that indicator is showing no signs yet of converging towards a ‘buy’ signal and is consequently also suggesting the drop will continue:
....provided the opportunity I needed to conclude my buy back of sell-offs made in October, effectively locking-in the profits and putting my LTH back at par. I’ll be ready to add if further opportunities arise at the right levels relative to other factors.
OP and Shel are both continuing to fall under similar but not identical red trends in the following charts:
The difference between the two is mainly in their starting point but OP, unlike Shel, is now testing its low-price trend (green) for a second time, whilst Shel is only now testing lower levels having today fallen through the blue line. In short: their respective red trends are dominating so the odds are in favour of further falls - will green mark the bottom for either or both of them?
CVX has also got a downward trend after setting a heads n shoulders pattern very similar to SHEL.
I think of the 4 top oilies, EXXON look better bets.
End of week: The usual 4 Majors against Brent since last Friday: https://invst.ly/12hwx6
Shel was the worst performer: down 1% with Brent down around 0.5%. CVX and BP actually up
Shel is still within a downward trend (red) and testing the upper blue support here:
https://invst.ly/12hx68 , with 2500 and the more recent green providing the next supporting levels. A winter ‘low’ around 2450 or lower would begin to look distinctly possible if the current pattern continues through next week.
684,000 voluntary cuts, Brazil to join Opec+
Back online for next month ...but for how long ???
''Oil and gas are absolutely certain to become incredibly short and very high priced........running out of hydrocarbons is like running out of civilization. All this oil trade, all these drugs, fertilizers, fungicides, etc. … they all come from hydrocarbons. And it is not at all clear that there is any substitute..''
My guess is there is a Opec + meeting Thursday, if they don't agree to further cuts then oil price will fall IMHO
So some people are taking a profit now, we've had a good run this year
Why is the SP falling with oil over 80? I can't work this out
I just copy and paste the links and say from: www. Etc
Never had problems?!
Could it be a "banned" website?
How do you guys manage to post web links ?
I had an interesting one about opec splitting up or fragmenting
Sounds like it has a full cargo of phosphoric acid rather than oil though!
Boyo - no real surprise that the US is maximising oil output, but hitting a record output in October is quite staggering.
Biden has certainly pushed & probably incentivised shale producers to work flat out to help reduce the OP. The Great Satan even did a tour of "friends" in the middle east to plea for increased output quite recently. He hammered down on the refinery margins that were seen as excessive & leading to excessive profits. Jim Ratcliffe at Ineos is threatening closure of Grangemouth by 2025, citing the worldwide issues with refinery margins. Don't play poker with him when you see what the Scottish Government will pay in subsidies to keep it open!
Biden has been playing around with when the US releases or tops up the SPR in an attempt to influence oil prices. No doubt behind the scenes Hedge Funds & Investment Banks etc have been briefed on what is expected of them. He has even explored opening up trade with old protagonists including Venezuela and Iran.
Whilst Biden might not succeed completely in putting together a "counter-cartel" type agreement between OPEC customers he seems to be putting together some resistance to the oligopolistic dictates of OPEC+. He is hitting them hard when they have off the map infrastructure projects to pay for. Probably a sizable war, or world event, or bitterly cold winter on the East coast of the States, will expose the fragility of what Biden is attempting, but the Israel Hamas conflict & a bit of Iranian ship-napping has not pushed the oil price in the direction shareholders would like.
$60 per barrel is a double edged sword in my view. Shale guys will be very unhappy and lower production.
The U.S. Just Recorded Its Highest Oil Production Month In History:
For the last decade, OP has been subject to US ‘boom and bust’ cycles which, following the last OP war with OPEC+, were supposedly now under control because US companies that needed to pump ever increasing volumes to service debt had all gone bust and shale production came under the more prudent control of better financed organisations.
Yet OP today still remains vulnerable to US overproduction and depends on OPEC+ reducing production in order to balance supply and demand.
As Presidential election approaches, the current administration would love to see OP nearer $60, so don't expect green policies to keep much of a lid on things.
Boyobach, totally agree. All these 'idiots' marching against Big Oil and Gas, etc... and trying to bully politicians into change, need to cut out all their own oil, gas and coal and other carbons' consumption before they have any right to demonstrate. Pure hypocrisy.
Addicts don’t like their supplier….
Oil is a necessary evil: society knows it but it’s easier to blame the oil co’s than to accept responsibility and deal with it.