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Daily Candle looks good. And to repeat from before neckline of inverse head and shoulders in that 453ish area, worth 30 points to the upside when/if she blows…hovering over the rebuy button having shed some length recently

OPEC considering 2mmbpd cut…god help us if that doesn’t get the laggard thru that 453 resistance area…fingers on buttons

Also the institutional and mutual fund holdings are now near 35% which is the highest I’ve seen all year..,if the website data id correct

8.91….virtually un moved….looks like the pump up in Apr was locked in against one trade and hardly moved since. ….

Stranglehold of selling around that 453 area, but has tested the area so many times, that when it breaks, the move will be decent. At least 30 points based on the inverse head and shoulders target from the 426 low to the 456 recent high.

Dollar in retreat and OPEC looking to take back control all putting Brent on course to get substantially back above 90. China will start to reopen after the golden week/party conference. Already seeing Extra product export allowances announced translating into higher crude runs?

Gas dropping back to Sep levels as milder weather continues proving a bit of a drag though for now. Keep an eye on those Austrian gas flows.

US oilers back in vogue and q4 on average gets a 5% S&P bump during a midterm election year. Only outlier is the nuclear threat.

SoL data should be out in an hour or so.

Enough to get OPEC jawboning , expecting at least a million barrel cut..and to rub salt into Bidens wounds Iranian oil workers about to go on strike

DXY still overbought and needs to correct

Mornings like these not good for the blood pressure

Decent top forming on DXY, with all the central bank interference….should see some decent profit taking and Brent back above $90. Bodes well for the morning…

How irritating the gap was a whisker from closing before the BOE intervention came in….had buys lined up below..

They have concluded current buybacks if you read the small print at the bottom…next tranche incoming?

See Talos bought EnVen for 1.1b . 26kbd of GOM production…seems pricey? Share price currently down 5%

Who do you think you are Rookie? Karmakinix….? ;)

Swap position crossed the 7% threshold

Anybody just hear the Markov interview on Radio 4? Deranged

Jeez, over 2m shares bought yesterday at a cost of just over £10m…..somebody’s in a hurry

Good chance this ends up virtually unchanged, with the pre buying ahead of Tuesdays entry into the ftse. Criminal price action this morning…but unch leaves a candlestick like Sep 8th, and RSI with room to rise again….the psychological 500 level can’t last long, thereafter; there’s only so much the board members brothers wives need to unload…no TR1s from any of the major holders unless they only notify once the whole order is completed. One eye on tropical Fiona as well, as diff to be short over the weekend , with a chance of stay her skirting below Puerto Rico , Good weekend all

Mar 21 high at 648 correction

What if Soders theory is correct, that whoever is selling to BofA and hedging it with crude all the way down the curve. With no WFT and crude off such a large amount, then they have right royally chimpef the trade and are losing their derrière on it. Stop out on in progress as the pain turns up a notch? Only will come to light if BofA reduce…or is it simply just M&A?

Don’t get me wrong oil will rally as soon as Xi let’s the population out of lockdown, which will come after the party congress mid October, co-Inciding with the SPR drain coming to a halt. No Iran in the near future and hurricane activity starting to bubble in the Atlantic., 3 storms currently off Africa. And the Diesel crunch hasn’t yet happened, which gets exponentially worse once Russian exports sre banned. All bullish HBR. Looking for the March 22 high 648 and then the gap fill around 1215 from Mar 20. That candle was textbook yesterday and the RSI now has room to the upside. Good weekend all

Very bullish daily candlestick today and recent action has reset the RSI below 70, giving room to resume the upward momentum. Added small

Russia switches off Europe’s main gas line until sanctions are lifted….no surprise but a bleak winter ahead

Just a touch lower at 8.37 for Aug average

BOA still increasing