RE: The Oil Bulls Betting On $150 Crude10 Jul 2020 17:03
I actually think that level would have some impact on UKOG, even while the usual day-to-day movements don't.
I have been saying that I think there will be an opposite reaction eventually, and I could easily see it going well over $70 and wouldn't be at all surprised to see it above $100.
$150 might be a stretch (who knows) but yeah, $120 maybe(?).
Even Warren Buffet's just bet $9.7Bn on it this week.
I also think BP got it wrong allowing for only $50/barrel over the next two years.
They've made a massive write-down based on that, but I think they're going to be left with a lot of cash in the bank (special dividend, if I'm right!!! YAY!).
:)