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Better getting off own OPEC members than the US, as they can still keep control of stocks better than letting the US loose.
I think that is why Saudi been saying all will be back up soon, to keep everyone from producing more and maintain their target of reducing. Of course Russia probably already been producing more since the fire to give them excuse.
Trouble is, they all in it for themselves, so a few porkies being told everywhere. LOL
Malafuster,
we not had one of your reminders about the oil price today yet ?
You had great delight telling us how your predictions were right yesterday and how it would all rebound.
p.s. PMO sp down to 87.22
Am sure your 1.30 target will come soon enough, but you could have made 5% extra from yesterday , if you had followed some of the so called drama (queens) you called.
Good job shrewd investors do not listen to people on these boards. LOL Have a good one Malafuster
Moresmash,
Agree, some "porkies" are being told along the line. I think it is because if Saudi say going to be short, they know US will send their oil reserves to cover and they don't want Trump doing that to flood the market apart from surely, they would want their own OPEC friends to fill the gap, not the count Trump who has tried to screw them over before.
They also want to control their own shortfall, as opposed to every man and his dog countries, thinking they will produce more, thinking they can get away with it over Saudi shortages and then flooding the market in 2 months time.
Am sure "Trump the Count" will want to get in on his twitter tomorrow, he must be having withdrawal symptoms, from not tweeting anymore about all this !
Whatever, it is all boll*cks as usual, but we will See what transpires in next 24 hours :)
you can hold google translate on your mobile to the speaker ...better than nothing
just saying oil has negative impact on world economy...nothing yet
Funny to watch the conference, they all think its a day out taking photos......& videos.....
All on their phones..... could be the UK parliament at commons time.......ha ha
The weekly puppet show again......... wonder if the Iranians will send a missile to hit the conference...... since they are so accurate.
You will see Trumps strings going to the speaker, to tell them what to say....... LOL
Load of bol*cks really....... does it all really need a conference.....just announce what is going on when you know something FFS
MrD, trouble with stop losses with PMO is more than £15k to £25k, it just passes and you get a message to say it has not been actioned due to market/price fluctuations, but you dont know for 3 to 4 minutes it hasn't until you get email saying it has been rejected. Then you end up doing manually anyway. So for me have to do everything manually. (with HL)
Then if you leave overnight and the price crashes, it will sell out at the first lowest price of the morning, therefore if price rebounds you have lost out.
maybe this will be an opportunity for you to get back in MRD.
I still have some in, (sold good chunk today) but going to see how market settles for a few days........ I dont trust Trump, Saudis, Russia etc...with whats really happening out there.
Trouble I see possibly, is all the OPEC nations are thinking, (while Saudi suffering, lets all pump more to help the shortfall and then Saudi get back on stream, US put reserves into market and suddenly we have a glut of oil out there, more than we would have had.
Don't know what the Saudis were thinking not just telling the market, it will take weeks to fix, then let higher oil prices materialise.
Think they have screwed an amazing opportunity to get prices up. (or Trump has been pressuring them in the background)
Yes agreed, tomorrow could be well over 90's again but i don't need this constant up and down so sold out £400k worth ......
it has been up and down like a yo yo. I am not losing my gains again, although lost a bit since yesterday.
trouble is while that count Trump is about, you cannot trust what underhand lies, deceit and deals he is doing to keep oil down.
Still got some in but good chunk off the table, but tired of being up 5% then down 5%
I am with Dodger, this oil lark, getting far too volatile. Large gains to be had, but they they fall back down quickly.
Why dont they just release a statement, why all this cloak and dagger and having to do it after markets close , why not just release the ****ing statement or are they trying to appease the mighty Trump.
Its had that feeling all day, that it was waiting for the drop. That's the problem with oil these days, either shoots up or shoots down fast. It has been struggling to get past $68 all day.
I literally went to make a cup of coffee and in that moment, it lost 3p and oil down $2.
Depending on the damage, am sure some will be repaired sooner and other parts may take longer, but whatever happens, the US wont want to give up their reserves too much, as if Saudi gets hit again or there is war, US will want a good supply of spare oil. Especially that other attacks could occur in any country that produces to have an effect on oil worldwide.
I certainly would not wish to give all my countries reserves away, just in case, I need it.
Seems like it does not want to hold 68's / 69's just yet. Been edging to go down......
Hope the Saudis have good news i.e. they cannot get back to full production for few weeks/months
Thanks for that Groover, appreciated, so looks like could be a little while before full capacity.
Going to be an interesting couple of weeks.
Just hope oil stays steady.
Cheers
I feel sorry for members that he had a large loss on PMO from £1.80, however, he has always advocated everyone not to sell their shares as per one of his quotes " Day trading maybe, but now that a whole new era is on the horizon with all the exiting assets and the Zama sale imminent, I certainly hold on to my PMO shares."
Then he goes and sells his own PMO shares and does not take his own advice. Luck plays a huge part on shares in my opinion and those still in over the weekend were lucky to enjoy this ride today and possibly tomorrow.
I wish members the best , maybe he has reinvested elsewhere and had some gains and if so good for him.
I will be staying awake tonight, see if i can spot any missiles flying overhead , on the way to Iran LOL :)
Has anyone seen anymore about what damage been done to oil fields and how long they expect to be down....I did see somewhere that 30% will be up shortly , but that still leaves 70% unknown.
They all are still a bit vague, which would suggest it may be worse than they think.
Be nice the see if we can break the £1.00 tomorrow if this stays where it is or higher.
Surely PMO are now looking at a bit more hedging at this price to add to Hedges already, as can take a little more of the risk away until new production comes online. All starting to look good and we have not had the trade war agreed, nor Zama sale yet. Could we see £1.50 again before end of year ?
Just broke 68.00, that's my boy, now FFS, just stay there as a minimum, or else, there is a big £1 party and you will let everyone down.
They not the only one......"come on Trumpy Boy" don't let Iran keep poking that stick at you, you need more than twitter this time to show how tough you are ! LOL
I don't wish war, but if it happens, being in PMO will be a consequence and for that, I will be happy.
Personally, I think Iran are rattling a few too many cages these days, (as well as Trump) a bunch of liars and think they may just push things a touch too far.
p.s. is Trump off ill...... not normally this silent, maybe his twitter account has been banned for good LOL
I like CashFerret, he has been around along time on this board, in the days of the positive & negative and is never confrontational, unless poked. The fact he is still around, suggests he is making money in some form, or like many others who used to frequent this board, they would have disappeared for good, either taking their money and not risking again or losing too much and leaving shares alone.
I welcome positive and negative comments, in whichever way they come, as only that way to you get a view from both sides of the fence.
I de-risked a few today, as did not know which way this would head later, so far had a great day of profit, some realised and some still in.
What a great day so far for long term holders, who have been waiting a while for this leg up !