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I hope we have a mild winter like last year too, to lower the energy bills.
https://oilprice.com/Latest-Energy-News/World-News/Europes-Natural-Gas-Prices-Fall-After-Australian-LNG-Strikes-End.html
I guess that’s why the old saying ‘the enemy of my enemy is my friend’ is true.
https://uk.investing.com/analysis/oil-will-putin-be-second-time-lucky-weaponizing-global-supply-200589939
Article about De-dollarization:-
https://www.jpmorgan.com/insights/global-research/currencies/de-dollarization
An interesting article, I guess this partially explains why the FTSE 100 has lagging behind against other major indexes and easily influenced by the 56% foreign ownership of UK quoted shares.
Can't pension funds back Britain? A generation ago they owned half the UK quoted market, says HAMISH MCRAE:-
https://www.thisismoney.co.uk/money/comment/article-11766249/HAMISH-MCRAE-pension-funds-Britain.html
Miracles can happen but b4 my blind hopes takes hold of me, I like to watch for the momentum so I just let the SP to show me where it wants to go (the path of least resistance) using my own price targets/pointers/guide.
To me first the Sp will have to close above my following price targets if the momentum it’s upwards but I don’t expect in a straight line.
1st - the highest closing price this year 2604.50 made on 02/03/2023 then retreating to 2200.50 on 24/03/2023.
2nd - the old B’s all-time high closing price 2841 made on 21/05/2018 (intra-day High 2843, Low 2803).
So I’ll just let the SP to tell me where it wants to go and see if it’s upwards using my price targets. Let’s see what the follow-ups holds. IMHO
Hi Nomad1 yes please:-)
Hi Nomad1 you are correct, I saw the following article on Bp news tab.
BP CEO Bernard Looney steps down:-
https://www.lse.co.uk/news/BP./bp-ceo-bernard-looney-steps-down-7dgbwv8rb2ngsrw.html
And It looks like the current CFO will be the interim CEO in the meantime until the a new CEO is chosen.
Https://www.reuters.com/business/energy/bp-ceo-bernard-looney-resign-ft-2023-09-12/
Hi Ggp, personally I would say no I wouldn’t want the Sp to go up at any price because I’m more of a consumer who would be impacted more by high inflation scenario (let alone in a hyperinflation situation) than what I would make on a profit, unlike a billionaire investor who would make millions. So I just want to make a decent profit in a normal situation.
Also remember this time in 2021 the Oil & Sp were going up from the pandemic Low, in the hope that life and the supply/demand dynamics will go back to normal to Pre Covid level.
Hi Ggp I just saw this and thought you might like the article and it looks like you are spot on about Putin’s plans you mentioned on Wednesday, they announced this on Thursday! :-)
Russia To Divulge OPEC+ Deal Parameters Next Week
https://oilprice.com/Latest-Energy-News/World-News/Russia-To-Divulge-OPEC-Deal-Parameters-Next-Week.html
Https://www.cnbc.com/2023/08/03/oil-rises-as-markets-weigh-inventory-data-us-ratings-downgrade.html
Nomad I know I won’t be complaining either, we can only dream a price of 30s so let’s send some good thoughts :-)
From the news tab above