Reality is if the Columbia plan comes off this is a monster in the waiting. If not it's dead in the water. I have recommended this to loads of associates on exactly those terms. Betting between 1k and 10k they are all happy with their chances and so am I. Its a rare gem. A chance to really multi bag your money.
IMO, Dont put in anything you can't afford to loose and maybe, just maybe you could strike it rich with this one
Unlucky for me then considering I have long positions in three then. Guess all my research into the fundamentals of the companies and the oil market was a waste of time then.
Oh well better close them as soon aa possible then.
DBNO and Jay thought of "oil at $70-$72 and PMO 95-100P by end of month" was laughable. Well looks decidedly likely now doesn't it guys.
Lots more to come from POO and PMO. Shifters will soon run for the hills, flip sides and drive both onwards and upwards.
Never to late to get on the train guys.
DBNO got to laugh, now oil is technically overbought. Do you ever commit to trades or just endlessly go on about reason not to commit.
Commodities do not perform to TA's. Pure supply, demand and logistics of moving the commodity to market.
Supply Vs demand currently balanced. Logistics look set to constrain supply to market both in the US and ME. POO is range bound but IMO will soon break upwards in will donsonin style.
Just my opinion. I sleep easy knowing I have done my research, commited to it and will hopefully be rewarded for this.
I would rather try and fail than never try at all.
By Julianne Geiger for Oilprice.com
"Massive disruptions” could be seen in the crude oil trade in the Middle East, particularly in the Strait of Hormuz, according to a new report from IHS Markit.
Spot rates in the Gulf have increased dramatically after the most recent attack on two tankers in the Gulf of Oman last week, according to IHS Markit. A VLCC—capable of carrying 2 million barrels of crude oil—now commands US$15,000 to move crude from the Middle East Gulf to China—a more than US$4,000 increase from just days before the attacks. The July contract rate is even higher at US$25,000 per day.
Higher insurance rates are partially to blame for the increased fees, as are higher bunker fuel prices in the Middle East region. What’s more, vessel availability near the Gulf is expected to fall over the next couple of weeks, HIS Markit said, as ship owners are likely to avoid the risker area that has seen more than one attack in recent weeks.
The reduced tanker traffic in the area as a result of increased costs and higher risk may further eat into Iran’s oil exports, which have been steadily dropping since the United States levied sanctions on Iran and most recently, since the United States failed to extend the waivers to some of Iran’s biggest buyers of its crude.
China, IHS Markit said last week, was Iran’s last hope, with the fate of Iran’s oil industry clearly in the Asian country’s hands. China’s crude oil imports from Iran dropped in May, while its state-owned refineries go offline for regularly scheduled maintenance.
Clarksons Platou Securities today reported that VLCC rates as of today averaged US$22,100 per day, Freight Waves said, adding that that was a 63% increase week on week.
Yeah the WTL WTC they are producing is very poor. Reckon we will see a build but not expecting any real reaction. The market knows the US is importing for blending and that the refinery bottle neck is skewing the inventory numbers.
Expect the delays in shipping thought the gulf of Oman to have some impact on sentiment next week.
Good understanding of the oil markets Plebleens.
Not sure about API and EIA figures this week. Bearish sentiment has been propped up by imports of Brent. Expecting the Starit of Hormuz situation to impact imports but probably not this week so expecting another build.
Market understanfs the situatuon regarding the US builds and what's going on in Middle East so not expecting significant impact from any builds reported this week.
IMO market will seem bullish on oil in the weeks ahead.
British bulls@#t DBNO,
Do you believe what you post? If so you are moron if not you are the worst de tamper I have ever seen.
The oil market is going to spike and companies like PMO should spoke with it.
What is your agenda here? Are you waiting for an entry point, going for troll of the year or all of the above?
If you want jnntk PMO buy if not why waste your time with this drivell.
Results from ZAMA so far should have been a game changer. There is lots of interest in the Mexican licences at the moment. Personally I would like to see PMO sell off ZAMA, farm out Sea Lion and slash the debt with the proceeds.
What a company we would have on our hand then.
As Yazz once said "the only is up baby"
All quiet here, no real interest but most importantly no real downside. Poor POO factored i, posibility of further SD delays factored in. The last operational output drew a line under all the negatives here and with PW gone this is a real gift horse of a share.
Jay, you really have no idea. Sad really.
The point is the IEA forecast are essentially a worst case scenario. It is based on the US achieving the EIA growth forecasts, which everyone in the industry knows they won't due to export bottlenecks and quality issues. Its also based on demand in China slowing due the trade war with the US, that everyone knows will be resolved this year ahead of the presidential elections.
The surplus could change to a deficit in a heart beat and that IMO will send the POO upwards pretty damn quickly.
Anyway time will tell.