Shorters trying to suppress the sp here. But Brent will19 Jun 2020 17:04
overcome IMHO.
HUR produces 12,000 bopd, every day.
On 1st June Brent spot was $36.
Now Brent spot price is $41.76.
Brent is $5.76 per barrel more now.
12k x 5.76 = $69,120 a day more.
$69,120 x 7 = $483,840 per week more (nearly half a million dollars).
AND since the production rose from 10k a day to 12k a day the sp is LOWER.
--- being shorted.
Market will break them if Brent holds or rises.
Then HUGE jump in price as they buy shares toi close their shorts.
All IMHO.