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Alfa, snakes and ladders as it usually does. Not be surprised if it does not take another leg down after hours.
Just get tired of the 3% drops in 15mins.
Has anyone any idea why the drop, guess it's something to do with Orange faced count, as it normally is.
Should have sold out yet again at 89.50, would be a good few quid better off. Thought we were going to have a stable quiet weekend.
MrD, once I'm out of oil, never again. Too much manipulation and corruption goes on and they take it down and back up far too often too quickly to react and often after hours so you have no chance.
Seems like TLW oil under cosh, so hope you get some luck to get your money back soon.
Having another wobble down. Up, down, up, down, it's a fu*king nightmare this oil. If it goes on like this, we will still be at 80p Easter Monday.
Where's Trump's deal he said was millimetres from being done, lying orange faced count.
Well oil now at high of day again $63.33, great news. Just amazed how they take it either one way or other so quickly at close.
Maybe 90p may get broken tomorrow, its got to at some stage.
Beerbull, thanks for that. Had a quick look, all interesting discussions, trouble is everyone as you say, has their own arguments on both sides. If oil comes good, then PMO should get a double boost, as they are due a decent re-rate. with just fundamentals on their own.
I still think too much emphasis is on all these reports i.e. API, EIA, OPEC etc... all change with the wind and there are too many variables to forecast
Even brokers & broker forecasts cannot get anything correct, i.e. Goldman Sachs just 0n 14th Nov, said Lloyds forecast was 51p and here we are 14 days later on 62p. (completely wrong)
Personally all I need (and probably many here) is a spike to take PMO to circa £1.12min to £1.50. There are as many areas that has taken this down, that can also take it up, so got to try and be patient for next 12 months, which is my big weakness as you know, after being here for so many years.
Last point is, oil demand has grown for last 15 years (see this link https://www.statista.com/statistics/271823/daily-global-crude-oil-demand-since-2006/) and I don't see that dropping, and to date alternative energies are too unreliable, expensive and not convenient enough for the next good few years. (would you fly a plane with a battery ?) By that time PMO will have hopefully hit the above figures. (it only needs to hit them for 1 day to take profit) IMHO of course.
We will only know who is right and wrong in 2022, when we look at actually what did happen ! (Playing with 50% of the bet it can only go one way or other)
Is the 4.30pm slap down coming ? Been steadyish all day, see what they do after 4.30pm and into weekend.
Would be good if oil was positive into the OPEC meeting on 5th and 6th.
Grippa, I always keep my word, the drinks and the milky bars are on me with pleasure. :) Get your orders ready !
Getting closer, so just hope oil plays ball. I agree 2020 will be good year , not before time, been a long few years.
China deal 1st phase and OPEC cuts will keep a base on price of oil hopefully.
Good luck Grippa.
This constant oil, up and down, SP ending up in a range gets wearing I have to say.
And trouble is, he really believes the sh*t he comes out with. He needs a straight jacket. Sadly he has still got followers, just shows what low intelligence he is aiming for voters.
Missed the 90p again, unless oil rises on EIA build which I doubt.
The elusive 90p, when will we finally crack it.
Zama sale not looking likely until next year, so only Trump deal and OPEC left to help out.
High Crude Oil Stocks, Net Chg (Bbl)+1.572M
High Gasoline Stocks, Net Chg (Bbl)+5.132M
High Distillate Stocks, Net Chg (Bbl)-+0.725M
As usual no rest bite. OPEC need to cut not just extend. Will
90p is certainly a hard nut to crack and they definitely don't want it going over it.
They must be throwing everything and the kitchen sink at it, to keep it below.
Absolutely tiresome seeing builds every week, although oil been rising through these figures.
It's snakes and ladders every week. Iran where are you when we need you and your drones. ?
Can we finally break through 90's tomorrow or is API and EIA going to let us down again ?
Certainly oil wanting to rise.
GLA
The pan lid is certainly being kept on this rising and topping the 90's.
About time we got out the late 80's, into 90's. Got to crack soon, surely, even though they trying hard to stop it.
It has been another day of alot of sells, seems like they don't want this past 90p yet, every effort to keep it down.
Good to see shorts reduce (even though only slightly) as at least right direction.
I do feel for some on TLW oil which has had a bad day today, when by now they were expecting a little rebound, but this share market is ruthless and guess the funds are making as much on the way down, before the rise.
8 days before OPEC, 9 days before OPEC+ and bids closing on Zama (Bladesman was going to check with PMO to make sure 6th Dec) Election 12th and hopefully most of uncertainty over, just leaves the orange "Trump the Count" to get the china deal 1st phase in progress.
Then about fu*king time they let this go and we get back over £1.00, as been too long sitting around 70's and 80's :)
Unfortunately I don't trust anything Goldman Sachs says.
whatever they suggest to everyone else is probably the opposite of what they are going to do.
Goldman Sachs make money by the way the market is going to go up or down, but the last thing they will want to do is tell the market the way they really think it's going to go up or down, as they want the profits all for themselves.
It will be interesting to analyse this in 12 months time and see what really happened in the market.
IMHO
Plebleens, thanks for your insight, you always have a good thought process and I always respect your opinions and value your posts. It gives me hope that when the price was rising recently, there did not seem to be any algos hitting the sells, like often it is and it went up and stayed strong. The last couple of days, they seem to be hitting again, but I think once the companies & algos move on to somewhere else (whoever it is that is creating the main negative effect) this SP will fly and that's what keeps me in.
Have a good weekend Plebleens.
G.Sachs Holding Notice out now, so explains (in my book) why the last couple of days, the SP has struggled to gain momentum, especially on a rising oil price to over $64.30.
And while they making good money, why would they stop ? Will it be Zama sale ? Lets hope so !
Have a good weekend all.