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Not a bad idea. If you REALLY want to invest in a oil company at the moment (and that means you're braver than me), maybe go for BP or Shell, at least they won't go bust.
I don't think there will be a bounce on Brent any time soon.
If Tullow can pull off a bounce under these conditions it'll be a minor miracle.
Holy crap, oil is in total freefall, I've never seen anything like it.
Max, June has never been negative. (Yet!)
It was May. You need to be sure which contract you are looking at.
Is the question everyone here should be asking themselves.
It's less likely than WTI as there as less delivery constraints for Brent than there are for WTI (which has only one delivery point, Cushing in Texas).
But it's still possible because storage is just as full in Europe as it is in the USA.
And freight is very expensive and very hard to come by, so even if you do have some storage somewhere you need to get the oil there and that isn't easy.
So could it? Yes it could. Will it? Who knows. Maybe.
Well he sold June WTI yesterday at higher than 21 I assume.
What kind of dumbass question is that?!
I would tend to agree.
Now is not the time to panic.
All this was forewarned and patient people could have bought in cheaper had they listened.
....but if he could turn oil into water, that would be a worthwhile trick.
Maybe Tullow could find and sell some oil barrels. You know like the actual barrels, I think they're worth at least 50$ each.
It's not looking good for small oil companies when the best advice is;
'Stop producing'.
Not sure what r/r is?
And of course the oil is insured. WHoever is trading it will have a fully operational insurance policy.
Get a grip.
It's an impressive day for Tullow considering....
If Brent does stage a mini recovery, TLW will most likely move into low 20's.
Big IF, though....
Exactly what the Saudis wanted surely? They can now step in to fill the void. They will be happy with oil at around 30$. Enough for them to get by on, especially if their volume increases, but not too high as to tempt US shalers back into production. They have the market by the balls to be honest.
This is so funny.
When I posted that at 1310hrs it was at 17, so yeah I called the bottom today. Doesn't sound like de ramping to me...does it?
I started posting here recently on the airlines, Ryanair and Easyjet, as I had shorted them both, then got interested in oil.
It's not fear mongering it's sharing important market data that many here seem to miss or are blind to.
I have no idea who illbetabuck, Whitebox are.
I live in Palma, Mallorca. Would you like a time stamped photo to prove it?
..which is hilarious to be honest...
I posted this at 13.10 today;
I don't think crude or Tullow will go much lower today.
My daughter was due to fly and see me in Mallorca from France. Was with Volotea, they are quite big in France/Spain/Italy. We just received the credit for her cancelled flight 22nd April.
rd, re. bp/shell, I think a lot of it is greenwashing just to look good and be able to reply to green critics at the AGM.
I remember though that Total bought a solar company when I sstarted working for them in 1995.
But they are and always will be oil companies, I don't think they can really change that.
And for goodness sake, don't delude yourself that some hedge fund would take the time to deramp on here. The peanuts traders on here mean nothing to them.
Nov, you're getting boring. I laid my cards on the table, take it or leave it.
Of course lots of vaccines are being developed. The vast majority will fail. Some or just one may succeed. But will it be 100% effective? Doubtful. I was simply requoting an expert that cast doubt on whether a truly effective vaccine will be found.
Make of that what you will.