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Old 01-23-2018,
Actokova Actokova is offline
Join Date: May 2017
Posts: 0
Default $50 oil?

Just some food for thought; I wonder how many of the experts predicting the bottom to fall out from under crude were also calling for $100 a barrel just a few short months ago?

Also, does anyone find it strange that the President of OPEC (the Nigerian minister) is calling on his fellow partners to cut production and N.Korea plans nuclear tests, U.S threatens U.N sanctions (they must be laughing their asses off in N. Korea and Iran)...ho hum, not interested. These two news items alone would have very likely spiked crude prices just a month and half ago. It's seems more weight is given to positive news than negative news lately.
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Old 01-24-2018,
aCjeO4DAys aCjeO4DAys is offline
Join Date: Mar 2017
Posts: 0

Just some miscelleanous ramblings while I'm patching up my ass after today's bloodbath, plenty of time to ponder my decision not to take the 10% loss last Friday. I think November brings some change; earnings, colder weather, end of elections, more refineries closing for maintenance (or so they claim ), etc, etc.
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Old 01-26-2018,
AbrahamZ16 AbrahamZ16 is offline
Join Date: Feb 2017
Posts: 0

I believe the exodus of hedge fund monies from the oil and oil stocks lowers the volatility and brings more focus to the essentials of the present instead of the possible dangers, ie that there is currently more oil/gas in storage than currently needed in the short term.

and that the republicans need help in the coming midterm elections !
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Old 01-26-2018,
Abrahamcoapsump Abrahamcoapsump is offline
Join Date: Apr 2017
Posts: 0

I think what N Korea does will have very little effect on oil prices. They will test underground - its not like they are going to fire missiles near Japan. Its supply and demand and I agree with hedge funds backing out. You need to worry more about production being cut. I love how Kuwait is now discussing reducing production - didnt we save that country from Sadam? Love my tax dollars at work Sr Bush...
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Old 01-26-2018,
Abrokmaise Abrokmaise is offline
Join Date: Dec 2017
Posts: 0

I don't think N. Korea's testing will have much impact unless there is already a geopolitical fear catalyst in motion, then it could affect price as a fear based on the end of the world media hype. Now if they successfully test and then Ahminadinajahd (sp?) visits them shortly after, that could cause quite a stir.
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Old 01-27-2018,
admin admin is offline
Join Date: Dec 2010
Posts: 988

I think OPEC is trying to hold prices in the least alarming manner possible, with the individual nations announcing their own cuts one by one until the desired price is maintained. Or perhaps the Saudi's do not want to appear anti-American or even anti-GOP and when they do announce cuts it will be blamed on pressure from the others? It is quite interesting to see the timely announcements and then the odd refinery problem pops up. I still think sometime in November will be when we find out if crude can really be driven lower or if it takes off to the high $60's again. Thinking back to the end of August when CNN Money called for $2 a gallon gas by Thanksgiving from $3 at the time, how do you make that call? It almost seems like an agreed upon target price, due to the rapidity with which the decline took place. This remarkable run up and pullback in crude has been a good learning experience for future trades.
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