Member Info for fogthemogg

"The spurt is due to Iran preparing for an attack."

The spike is due to speculators (mainly CTAs) bidding oil up. Another telegraphed, face-saving Iranian strike on desolate wasteland in Israel still has zero impact on global oil production...

"If true, I expect the oilfields of Iran to be bombed in retaliation."

Uncle Sam might have something to say about that...

"2025 could be the year. End of hostilities and a rebound in Iron Ore prices. £4 - £5 a share by this time next year and I’ll be able to treat myself to a week in Skegness."

What's your treat if we lose it all here? Siberian gulag?

That's an easy call to make at 21p mannan. If you'd said that at c40p in May, then that would have more impressive 😂

As of last week Harbour was #102

Bonker, how's your oil short squeeze going? We've been "keeping 'em peeled" for 2 years now...

Anybody know the prelim date for tax ruling in November?

BATS got a nice bounce from the summer wobble and recession fear narrative. Despite this pullback, surely with more rate cuts on the horizon and assuming the divi is maintained, we have to get above 3000p again.

Even with Israel bombing all of its neighbours, the resultant impact on global production is actually near zero...The "Middle East war premium" is just a sexed up narrative for speculators to run the oil price up and down.

This is actually how oil should respond to Israel bombing all of its neighbours, as the resultant impact on global production is near zero. The "Middle East war premium" is just a sexed up narrative for speculators to run the oil price up and down.

Hi Mark, you've seemingly nailed yourself to the mast as well as your colours...

You were bullish back at 540p, even asserting that BP will shortly eclipse its previous all-time highs...It appears you've been wrongfooted by oil and BP's slide, but still won't even entertain the idea that you might have got it wrong. Objective investors respond to new data and they're allowed to change their view, many of the greats have done so.

I added today at 381p, so it's not ALL humbug from me :)

Y11, the beauty of BP is that no one ever misses out.

"Where is the evidence that OPEC has collapsed?"

Saudi going alone with production cuts, open dissent from other members, record US production, emotional outbursts about "paper manipulation" and how "short sellers will ouch" from senior OPEC members who are visibly losing the plot, Brent clinging to $70 handle at the end of summer 2024...

Do you want anymore?

Didn't know BATS produced oil as well 😂

Mine nationalisation is unlikely; FRES is ultimately majority-owned by Mexican old money who will be close to politicians of all persuasions...Touching 640p now, IF this holds and forms the new support level then the worm may have finally turned.

380p come back to Daddy

Ah yes, the famous short squeeze in oil which has been "imminent" for 2 years...

Offmessage, do you think that oil traders and smart money read www.investing.com?

Another hard-earned dividend more than offset by the ex-divi drop. Classic FTSE.

Happy and Mark are having a joint garage sale at the weekend in order to raise funds to buy more BP.

All are welcome and there's only one rule: Just don't mention paper market manipulation or buybacks.

Saudi abandon $100 oil price target and will likely increase production, but the "tight oil supply" crew don't understand why oil tanked again this morning and instead scream "paper market manipulation" (again)?

Have you considered reading sources other than ZeroHedge and oilprice.com? Because they've been leading you down the garden path for the last 2.5 years with the false "tight oil supply" and "paper market manipulation" narratives...Deary me.

“And imo the big problem is that oil is not the future - like it or not.”

Agreed. Oil will always be with us and the global energy transition will take decades, but…

I was in Uzbekistan recently and two-thirds of cars there are methane-powered. Nepal is one of the poorest countries in Asia, yet I still see a surprising number of EVs on the roads; many more so in highly developed Asian countries. The direction of travel is clear…I think OPEC and the Saudis in particular, are in denial.