Member Info for Ken23

Bob I’m never late to bed 10pm at latest and I only need bout 4 to 5 hours kip and I got a very active brain, it comes from years of being self employed and running my business.
Don’t get me wrong I’m very relaxed with life now but can’t get rid of the sleep pattern as it’s just instilled in me if that makes sense

What a glorious day Jesus the old thermometer in garden reading 22c just the right temperature for a nice cool kronenbourg in the left hand while I type a masssage with the other
Have a great day lads.
I will be in air around 3am tomorrow to keep you all informed of any major news an inducement updates :-:))))

What is going on?
Both Moscow and Riyadh believe they have more to gain than lose by continuing to drive prices down - as weaker competitors buckle from falling profits, both oil-producing giants will move to increase their share of the global market.
There is a bigger strategic objective too. Russia, in particular, wants to check the rapid expansion of the American oil industry, pioneered as it is by the expensive hydraulic fracturing - or fracking - process, which relies on high oil prices to turn a profit.
In the meantime, however, as supply continues unabated, and buyers take advantage of rock-bottom prices, the world’s storage capacity for oil is quickly filling up.
When this happens, some may even start paying to have others take barrels off their hands. In short, the price of oil will drop below zero.
This is already happening in some areas. Last week, in an “obscure corner of the American physical oil market”, oil prices turned negative, meaning consumers were requesting payment to take the oil off producers’ hands, Bloomberg reports.
The main factor that will determine if this happens on a larger scale will be global storage capacity - if oil literally has nowhere to be stored, owners will start paying to move it on.

DT yes I see what you mean and yes revels very tasty.
Another nice day today so the mrs and I will probably go for a walk then cook Sunday lunch and relax in the garden for the afternoon.
We live in a very rural area so easy to avoid other people when out walking.
Have a good day.

Trump seeks Modi's help to release Hydroxychloroquine ordered by US to treat Covid-19 patients

Sorry guys that last post India came out wrong, it was meant to be about trump talking to modi about the anti malaria drug which apparently has some positive affect in covid 19 to be released for yanks to use, but India have banned the export from 4th April as they probably want to conserve supplies for the Indian comunity

https://m.telegraphindia.com/india

https://uk.investing.com/news/commodities-news/trump-says-if-he-has-to-put-tariffs-on-oil-imports-to-protect-energy-workers-he-will-2089447#comments

Trump threatens tariffs on oil imports to 'protect' U.S. energy workers
Ffs if he Does that then there will be retaliatory tariffs.

He has to cut production or else the shale drillers will be falling like flies
The orange man loves a good tarriff.

Just read one of the latest articles out today saying that Saudi and Russia have cancelled Monday’s meeting and apparently want the USA to also participate in production cuts as they’re pumping 13 mil brls a day if USA don’t agree to something this will get really bad.
They recon at today’s pumping rate all storage will be full by June, then they’re fuqed no where to store it but perhaps they’ll load all the tankers and store it at sea

https://apple.news/AOlgwRh8tSsau-xCDguASfw

No one knew even institutions until it crashed

The previous chart covers the following 17 commodities all Equally weighted.

The index tracks a basket of 17 commodities, including cocoa, coffee, copper, corn, soybeans, cotton, crude oil, gold, heating oil, lean hogs, live cattle, natural gas, platinum, silver, soybean oil, sugar and wheat.

The index has been headed south over the last nine years, reflecting general weakness in commodities, Kimble noted. In 2009, a then-29-year-old support level held, indicating that the worst of the financial crisis was priced in. It’s testing that level again now.

https://ei.marketwatch.com/Multimedia/2020/04/03/Photos/NS/MW-ID737_commsK_20200403110602_NS.jpg?uuid=a2276ea4-75bc-11ea-8f02-9c8e992d421e

Have a look at this commodities chart have we bottomed

Morning Scoop, ye I hope I’m wrong as well.
When I said December I didn’t mean the virus but was talking about markets recovering.

If you look back to the 2008 crash it took around 7 months from when it bottomed out before the market started making substantial gains and the same with the 2016 drop around 7 months from bottoming so I’m looking at a similar scenario this time.
I got some decent companies in my portfolio so I will just ride this stormy sihite and hope I come out smelling of roses.

Stay safe Scoop and let’s see where KAZ Is in 2 yrs time haha

TROAJAN yes looks like it’s going to be a long haul out of this one but I feel the market will start to react positively once the number of infections start to fall off rapidly.
Could last until December before any decent recovery in markets start.

https://www.spglobal.com/platts/en/market-insights/latest-news/metals/040120-interview-copper-demand-slump-cancels-out-deficit-still-long-term-winner-central-asia-metals-ceo

https://oilprice.com/Energy/Energy-General/What-Really-Caused-Oil-To-Rally-By-25.html

https://oilprice.com/Latest-Energy-News/World-News/IEA-OPEC-Cant-Save-The-Oil-Market.html

This sound disastrous for oil stocks

DT I see your theory there’s only so much storage once it’s full your ballocked you have to turn the tap off until your tanks empty a little that then controls the flow no argument

DT ye I’m still in Rdsb and BP they both react in funny ways but all ways catch up with oil and very often overrun when oil drops