Member Info for Krakenoil

The chart is forming the same pattern as yesterday.

Today will be another rinse and repeat of yesterday. Close of play today 76

If the oil price shows any signs of a bounce this afternoon, there will be another frenzy of buys as all the day traders jump back in.

Someone just bought 50k worth at 71.5, lets see if he/she got it right

Some big buys coming in now, I bet this finishes where it did yesterday.

With Shale still increasing production when the oil price is falling is just unbelievable ! Why ?? Shale production expected to reach 15m early next year, Only leads to one thing and that's $40 oil.
Are they trying to force the rest of the worlds producers into bankruptcy first ?
Certainly looks that way doesn't it

Brent down to $61.4 WTI down to $52.4 I wonder if AB is able to hold Kraken oil prices around mid 60’s as demand for it increase ? Shale is pumping itself to death, Opec might take the opportunity to help speed that up as they cannot stop the shale machine

Loses another Dollar in 12hrs !

What I’m saying is the figures don’t add up ! Import, usage and export don’t currently add up anywhere near what is being reported

crude:+4.852 cushing: +2.365 Gasoline: +.829 Distillate: -3.461 Tin hats tomorrow again

What I cannot get my head round at the moment is the US uses around 19.5m bbls of oil per day, imports are at lowest levels in 30 years, shale pumping around 13m a day so where the hell is the rest of this oil coming from ?

crude:+4.852 cushing: +2.365 Gasoline: +.829 Distillate: -3.461

So I wonder how much of a build they are going to report tonight ?

So how much of a build is coming tonight ?

Bang on …..Closed us out on the todays low. Pmo after being -5% this morning closed out with a higher gain ! lol

Will the UT drop the SP 1% like it did yesterday ?

I Actually agree with itsa with that price forecast

SN Looks bang on schedule to me, currently about 70nm away from K

Iran has reported its Accelerating the enrichment of uranium as pressure rises between the two countries, Iran also says it has ruled out talks between the two of them. Iran tells the US “It cannot expect to stay safe” ! Empty threats or a real possibility of conflict?

We obviously have a large investor dumping stock over the last month or so, why ? Oil stocks to volatile now for them to hold ? Some large hedge fund/Banks now stopped traders buying oil and stocks as they won’t trade a market on a pure gamble.