Why Brent falling after the 20m cut announcement10 Apr 2020 06:40
It's also very confusing why Brent is falling after the cut. It's not 31pb. How is this cut being interpretated. I think they need to do more as the maths don't add up
10m reduction on a 35m daily production. Tanks are already full so build more storage10 Apr 2020 06:35
As we know normally world daily production is 35m but only 10m reduction now. They have already filled the storage. What are they gonna do with the excess 20m. Build more storage or what. Not exactly sure what will happen but am still worried
Herd gone to the oil risers due to optimism there. They will be back when they make their quick 10% and get back when this is 10%. They make their 20% easy. For those who can't do it, just wait this will definitely go up
The day traders will ride on that to pump then drop it near close. Until we have news we will hover 25p to 35p. Then on news we fly. Without news it's day traders gaining only. Otherwise hold and don't panic
Remember grounding each plane is not cheap. They are meant to be on air generating revenue. A plane might be incurring over £250 an hour when parked on expensive airports like Heathrow. Its a disaster for airline industry. Many will bail out.
6 weeks left now for updates. Not far for longs so just hold we will get there. Am not a day trader so nothing to worry about. Not planning to sell below £1.