Member Info for Ollyandpatch

Futures up around 5.6% Crude at $42.2

I thought it was 10pm in UK?

Don't shoot me down but if shorters close on mass this SP could go balistic. As I have gone for 33.9p I am being sensible but you just never know.

Saudi Aramco on Sunday raised the price at which it will sell oil to all global markets in July, after the Riyadh-led Organization of the Petroleum Exporting Countries agreed with its allies on Saturday to extend historic price cuts through the month of July.

State-run Saudi Arabian Oil Co. raised the official selling price of all grades of crude sold to the Far East in July, raising the July price for its Arab light crude oil to Asia by $6.10 a barrel from June to a 20 cents-a-barrel premium to the Oman/Dubai average.

Aramco also increased the price of super-light crude-oil by $7.30 a barrel, shifting its price from a discount to a $1.65-a-barrel premium to the Oman/Dubai average. With higher quality light grades of crude oil tending to be used in the production of jet fuel and gasoline, the move is a signal that Far East Asian oil demand is beginning to recover from the worst effects of coronavirus lockdowns.

In the wake of a demand-damaging coronavirus pandemic and a vertiginous price rout during April, the 23-nation alliance of OPEC and its allies agreed earlier this week to continue their efforts at rebalancing a global oil market in the early stages of recovery.

Led by Saudi Arabia and Russia, the cartel agreed in April to cut output by 9.7 million barrels a day, withholding some 13% of supply from the global oil market and elected this week to continue those cuts through the end of July before reducing them.

Oil prices have rallied over recent weeks amid the beginnings of a pickup in demand for oil and oil products as some regions have emerged from lockdown, and ahead of the widely-expected supply cut extension.

Analysts expect that the longer cuts will speed up the rebalancing of global oil supply and demand. In that vein, Aramco also increased all of its selling prices to the U.S., North West Europe, and the Mediterranean. In each of those reasons, the company increased its light crude prices by 60 cents a barrel, $4 a barrel, and $4.70 a barrel, respectively.

"The 9.7 million barrel-a-day production cuts were already working, extending them an extra month will tighten the market more quickly," said Ann-Louise Hittle, vice president of macro oils at consulting firm Wood Mackenzie, after OPEC's decision.

"The fundamentals show the oil market is recovering from March's price shock. Supply has shifted dramatically...[and] global demand is recovering too, with both May and June climbing from the low seen in April as the coronavirus-related shutdowns continue to ease," she added.

Maybe by Wednesday but one thing's for certain all oilers will have a bumper month.

33.9p

Persian. Not the case in my opinion. It's a share, it's supply and demand longs v shorts, dampers v de-rampers. Going with your scenario TLW will only ever get to 60odd pence based solely on the oil price, it won't work that way, new CEO, better flows, a promotion to a higher market would all drive the SP much further than the price of a barrel of oil.

Bearded. That would do for me so I can get buy more at these levels.

We invested on Friday afternoon and are splitting £8k between HUR and TLW on Monday morning. Will I be moaning? I don't think so.

For me wanting to put another £4k in but will have to wait until 9am your time, I am hoping for either a strong start pull back and rise in the afternoon or a slow gradual rise from the off.

Just watching the company on CNBC looks interesting.

The easy part of trading is the buying, when to sell is very different. I once bought £10k of Corus at 6p and sold at 33p. Chuffed with myself I was gutted when they were bought out at £1.68. !! A small group of us have 2.4 million shares between us at an average of 23p here and could make a decent turn at 50p but will sit on our hands until we start to go above £1.

BFC so about a 7% fall on Monday probably on the front page of list of down stocks? Just don't see it.

I will be surprised if it's not in the 40s by Tuesday close. I will have further funds available at about 9am on Monday but expect to be paying over 33p.

PMO, TLW and HUR will rocket for the next month.

All the buzz feeds are talking oil up. One leading expert is calling the Crude price in September to be over $70

So out of all the stocks out there Tlw has the most ground to make up to get to its price 12 months ago. The company has its problems but which doesn't. Most stocks have recovered to decent level but here there is loads of upside or am I missing something. Could this end up the recovery play of the year?

1 code gone through. Expect an announcement?

Out of all the stocks sold off over the last month Tullow has the most to make up, so more profits for punters at anything under 32p.

He probably meant the other week cannot believe it's been 3 weeks since that low. I too got in at 98p on 14th.