Member Info for Krakenoil

Stump your charts are as good as Micheal Fish’s chart in 87
Full of smelly wind

Biden can't keep on selling from the SPR, he is already facing huge criticism over it. Opec can still balance that out with further cuts

Biden said yesterday refilling the SPR won't now be at $70-$72 it will be between $67-$70.
Producers over there now calling him a liar and they now won't base investment on a $70 floor as he could keep on changing his mind.
Looks like we now have the US using their SPR to fight Opec rather than higher production .
Shale ain't happy and I doubt Biden will win this war either

Most traders sitting on their hands with cash locking in November's figures, also Opec meeting this weekend so most will sit out until a decision is made on production.
Expecting a volatile end to the week as the media speculate
Current SP level is a great entry point for the medium/longterm hold

You spoke too soon ! Oil selling into close as well, usual pattern

Opec will seriously consider a new cut at next meeting

Hunt should now be saying “ Due to the war in Ukraine oil prices have fallen below pre war levels and we will remove the WFT applying to the production of oil.
The Cu*t won’t though

Chilting I think you’re wrong it’s very good news I believe, the people have spoken and have had enough, they want to get back to normal life now. This isn’t 1970’s any longer and China has become civilised, communism has had its day.
The government will face a tsunami of protests until restrictions are lifted so they have no choice

The US want $70 to refill their SPR, and it’s almost there.
They always seem to win

They have almost got their $70 target to refill their SPR before selling again into any rise

https://t.co/AoQAlwqXqC

Remember there are bond holders that had to convert to equity that are still selling out, probably not to far away from that ending, also high percentage of borrowed stock here that will need to be bought back, we are just waiting for the trigger which will be oil prices breaking the downward trend it’s been stuck in since 13th June and it can’t be to far away from that trend to reverse, fill your boots and sit back and wait

Stevo its 35% on Profits not turnover

Thats 56% above where we are today.

The oil market has been under pressure since 13th June, when oil begun its downward trend, It still hasn't moved out of that trend and that's why oil stocks have underperformed, The market is also anticipating demand to drop off until China can end their Covid lockdown policy and get the country back to work.
Patience is the key !

The other possibility is to Invest cash flow into Bentley, bring it into production and then sell it, no windfall Tax on selling assets. Could be worth a few billion quid - Special dividend of £1 per share = Job done !

Steve’s real name is Diane Abbott .

Well I didn't expect to see the day finish in the green considering oil prices have fallen 4.5%
A nice update tomorrow followed by a bounce in oil prices Friday should see us back to 26p

Morning Jan, I hope so too. We haven't had one for a long time now and are way overdue. I had to de risk a little due to this bastard government, I just get the feeling whatever we do It just won't ever go our way.

Blimey the Markets don't like that