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"Hear hear" dear boy. Unless you were trying to get him to come to heel?
Trouble with that site Pacha is that it vacillates on issues rather like a sine wave.
Nearly there Kenni!
Thanks Kraken. Of course, they may not close their short position.......all they are required to do under the agreement is not to increase their short position until the end of September.
Anyone got a more up-to-date figure than the 6.21% from June 10th please?
Yep, all looking good for PMO, and POO (Aug) currently at $43.7 helping us along nicely. The only way is upwards.
Brent up 1.5%. PMO down 0.5%. Go figure.........being held down, but can't last.
Can't help but feel that the sp is like a compressed spring at present..........just a matter of time.
I don't think comments from Polaris, or anyone here for that matter, will affect the SP frankly. All in the hands of MMs and POO, and world events.
Of course oil is going to be here for a very long time. They might be trying to plug (pun intended) electric cars, but the fact is that the majority of motorists on this planet simply can't afford them new, or nearly new. And the second-hand market will be dire as batteries will need replacing (very expensive), so who's going to buy one 5yrs old or more? Planes will still be running on avgas or whatever, and the mighty ships out there won't be going nuclear any time soon. No, oil will be needed for a long, long time. And of course there's all the other products out there which are manufactured from oil, though those are certainly likely to be replaced with more innovative products much sooner. So I can't see too much drop in demand whilst I'm still alive (hopefully a few more years yet!). BP will still be looking for oil for a long time to come. As will PMO happily.
.......do give it a rest! You've been squabbling all day long!
Twice yearly normally.
One wonders exactly what agenda he has, if any.
+2.4% not too shabby for a day after two successive big rises, and before tomorrows additions.
When the BP aquisition was announced, the market responded favourably. The sp jumped up, and only fell again when ARCM decided they didn't like it, and went to court. All that uncertainty caused some trouble with the sp, but of course all that has now had a line firmly drawn underneath it. The fact that today's sp has remained resilient, and indeed so far has gone up, seems to show that people are not baling out of PMO on the off-chance the sp will plunge when these ARCM shares are officially entered onto the books. The price paid will add value to PMO's bottom line, but more importantly the value of the BP assets and future immediate cash-flow from them, along with the NS tax benefits, will add even more. So I am expecting no drop in the sp tomorrow. If anything, and clearly it will depend to an extent on dear old Olivia holding up as well, I'm expecting it to remain stable or perhaps even rise again. We'll see!
After Friday's and Monday's substantial gains I think it's inevitable that some reversal was on the cards. But it's actually holding quite well at the moment, considering the conflicting views out there regarding supply/demand for oil. Gulf of Mexico and Libya opening the taps once more, shale companies also. Against that you've got India ordering 20m barrels from the US, China imports and around pre-covid levels. So is supply going to outpace demand, or demand outpace the ability to start production again? Lots of ifs and buts, so understandably a bit choppy at the moment. Stay calm!
I agree Kraken - I'm no fan of GS or any broker come to that. I tend to take their predictions with a generous pinch of salt, since I feel that anything they come out with is very much self-interest. But I guess at least sometimes some of them may be right! I myself can't see POO going back there, but that may be wishful thinking on my part of course.
Yes, dipped its toes sub $40 but didn't seem to like it. Let's hope Goldman Sachs' prediction of $35 soon fails to materialise.
SK....you surprise me. Always had you down as more polite than that. We'll leave it there dear chap.
Nice profit Thissen, but "I fear a cooling off this afternoon, hope I am wrong for all on board :)" seems a bit disingenuous.