PYX Resources: Achieving volume and diversification milestones. Watch the video here.
If you want to trade oil stocks then you really should be closely following the oil price. Sounds kinda obvious but if you're not doing things on the list below then you're in the dark;
1. WTI / Brent spread
2. Refinery margins - so poor that refineries shut down?
3. Storage levels worldwide - space for surplus barrels?
4. Futures curve - is it in contango or backwardation? Incentive to store in contango, but how much? Check 6 and 12 month spreads
5. Freight rates - cheap enough to move oil from one price area to another?
6. $ strength - is oil cheap or expensive relative the euro, etc.?
7. Geo political events
Well, WHO just said we are still in 'the eye of the storm' and that there is no easy path back to normal.
Don't just focus on Brent.
Look at WTI too. It's at 20. That will keep Brent under pressure until that spread narrows. Any US producer that can export to a Brent priced market will be doing so.
Thank goodness for people like Shpunken pointing out important data.
I am quite surprised how little posters here seem to actually look into the relevant oil data, which is obviously key for the SP.
The build in crude stocks on Tuesday was enormous and highly significant.
Great post!!
Mostly good advice and stats apart from the last part.
Why filter people with a different view to you? So dangerous, and very blinkered.
What if one of your filtered people posted some very important news, (Eg. a field runs dry) and you miss the chance to bail out?
All of these shares will come good again, it's just a matter of time and, patience.
Try telling that to Oasis, Warehouse and numerous restaurant chains.
The answer is to buy low sell high next time.
Damn I wish I'd thought of that.....
PAD, UAE use a lot of electricity in the summer, not oil. See below;
The UAE is currently transitioning from an electricity generation system nearly 100% powered by gas power plants (2010) to 100% powered by nuclear, solar and other renewables in order to substantially reduce its carbon emissions. It is also rolling out electric vehicle charging infrastructure.
Basically, the chances of aviation getting back to anything approaching 'normal' this year, are extremely small.
So I came to this board out of curiousity and have gleaned little useful info so far.
Mostly people holding on for better days and nursing losses and latching onto anyone that says 'I think it's gonna go up'.
I have experience in oil trading, but little experience of this company.
Can anyone give useful info on the assets and debt levels of this company?
What are the chances of them going bust? (Lets assume oil stays around 30$ for the rest of the year). I know they have hedged a chunk at 60.
Watch out. Posting anything deemed 'negative' here will have you flogged.
Don't forget that all the oil going into storage has to come out again one day.
Most likely it will be over the 1st half of 2021.
That will be like adding a medium size oil producing nation to the market.
Hereshopin (apt name).
I have no position in Tullow. I just pointed out some realities. I have have maybe helped open the eyes of just one investor to the vagaries of the oil market, then it has been worth it.
Ignore this one at your peril.....
Yes! I had forgotten his surname! Nice guy, we got on well.
No I resigned 15 years ago, but still have friends that are trading. Funny, I worked with a guy called Michael at PVM?
No I resigned 15 years ago, but still have friends that are trading. Funny, I worked with a guy called Michael at PVM?
No I resigned 15 years ago, but still have friends that are trading. Funny, I worked with a guy called Michael at PVM?
Is enormous. It must be at or beyond record highs, 9$/bbl. That's 65$/tonne.
Freight rates are high, but it should be theoretically possible to play the arbitrage and deliver WTI into a Brent market.
So Brent will be under further pressure.