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https://uk.finance.yahoo.com/news/oil-prices-rise-amid-saudi-tensions-demand-outlook-013944899--finance.html
S.Korea not imported oil from Iran in Sept for the first time in years.
French bank Societe Generale has revised its oil forecast up to $82 from $78.
We should really be climbing rapidly now,
GLA
As Members replied to me this morning, PMO has no logic. How true that is!
To fall over 7% today is way, way overdone. Brent is still after all above $80.
A couple of months back $80 we'd have been jumping through hoops. My faith is still strong on this. As I've previously said let us all get down on our knees & pray for some excellent news on TA in Nov.
I know FTSE is down alot this week. Is the reason for that being the consensus losing faith in Teresa May?...& the prospect of Corbyn looming over us, like some Halloween horror?
GLA
I think a big drop today was to be expected. However with Brent still at $82 PMO is a bargain at these prices. I'm sure we were at this price with Brent at $75!
When it climbed to $85+ we should have been north of 160p.
My opinion, naturally.
I'm just hoping TA in Nov is positive, very positive.
GLA
ROS that's exactly what I've been doing for a week now. I do look in, but I've been amazed to see this go down to low 130s.
I am quite relaxed that long term everything is hunky dory. Perhaps it's going to be slightly longer term than I would have liked though.
Sit tight & GLA
Funnily enough I was telling a friend at the weekend about oil, being hedged. He was complaining about the price of fuel at the forecourt. As we all know oil goes up & we pay for any increase immediately when we fill our cars up.
Alfa where can we find out how long our hedged deals have to run? Anyone? Are we hedged currently above $70?
200p after TA a bit rampy? ha ha. Perhaps, I have generally got my feet firmly on the ground but I do feel positive about PMO. Q1 will do!
GLA
Thanks for the reply Alfa.
Yes it was all quite predictable over the Summer & as you know I dipped in & out on a number of occasions.
This time though I'm staying in. If I were to try & trade there is the risk of as you say being left at the dock. Trying to trade I could make lets say a grand...but I could lose alot more if it conti news to rise.
My feeling is with Iranian embargo looming Brent will move higher. You would think it would be factored in, but in my experience these things never are.
I also feel common sense with Trump will prevail & there will be some sort of agreement with China, thus increasing demand again.
At $83 I would have thought we'd be comfortably above 150 now.
Fly in the ointment?...We have a trading announcement early Nov. These are rarely well rec'd, but for crying out loud surely the will be a dent in the debt. If there is then 200p.
It should be higher than 143 anyway imo.
My concern is olivia goes down to $80 (which is still excellent) & we go down to 130.
Thoughts on this anyone?
Olivia now $83. We're 141p. Steady rise, more, much more to come.
I seem to remember he lives in Thailand...currently 6hrs ahead of us.
Ha! If only my trades were big enough to budge this! (at least trading it, got me my money back from Carillion)
Daren't sell any of these now, I'm convinced this has the legs to keep going.
ATB folks
Yes Chrome, the volumes aren't high at all, I don't know why. If big money did start to pile into this we would be considerably higher than 139p.
I was more than happy with oil at $78ish, it's now near as damn it $5 more. We should really be 150 already.
Agree over this last 2 or 3 months I've traded this very nicely. Yes I remember it being at 108 when I topped up a while back.
Hoping for a quiet weekend & a juicy rise Mon.
Enjoy the weekend everyone.
I gave your 140 a thumbs up earlier laidback. Think we'll have to wait until next week now.
With Brent back above $82 we should be there though imo.
Well that was a strange day. I did say around 8 am I wasn't sure how it would go today & that proved to be the case. Climbing to 141p then down to 135p...actually would have been a good day to trade. But I would never have thought it would have lost that momentum.
GLA for tomorrow. Olivia should stay around this mark...Opec wont be pumping more, lets just hope Trump doesn't come out with any of his pearls of wisdom. We want calm seas!
But you've called it wrong so many times no one would have listened.
I've stopped trading this one for now anyway. I felt it was quite predictable before over the last couple of months.
I don't want to miss out by selling & then not being able to get back in. Hope for a steady rise to 150 now.
GL
Yes mate...I'm trying to keep my feet on the ground & not get too carried away. Slow & steady rise will do me.
Have a good day.
Morning ROS, I'm still here. Not sure where this will go today.
All the best
Can't knock you for that fella. I'm not quite so sure as before there will be a pullback, but who knows if Olivia drops a bit.
150 is coming, £2 would be excellent particularly if it's early in the new year.
GLA
Not a million miles away ROS. Enjoy the sunshine...enjoy PMO too for that matter!
Sounds like a nice Autumnal scene, whereabouts are you ROS?
I'm in the Cotswolds which on a day like this is also beautiful.