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OIL, just lovin it
toomuchmoney
;O)
anyone thinks that OIL could hit $60? this week would be just under a 10% spike, doable
any more missile / political activity can make things happen
watching
I wonder does OIL have the legs to hit $60 next week?
;O)
POWER move break out for tomorrow, looking for a really nice rise,
oil, nothin better
;O)
looks like OIL gonna gush more
can we get a full blown OIL break out? my charts showing it can be enormous, always be careful, I agree PL
feels like OIL about to make a larger move tor retest $55 area
;O)
Ty, no worries friend
fundamentals really dont matter with oil, or much in the markets anymore, ride the waves dodge the bullets, I like OIL a lot
This sector is having trouble but the pump price stays flat to slightly up??? WTH???
Consolidation pattern about 3 months long...
I should say the Sunday night low of $45.15.
Take out yesterday's low and Crude really should get under $40, darn it.
Crude evidently has run out of sellers. I am gone.
Crude has not shown it wants to rebound significantly yet.
If Crude takes out the October 18 low, it should be heading lower.
There was triangle on the 60 minute, broke up higher and then failed.
WTI Crude Tops $50
by Tyler Durden Oct 6, 2016 8:30 AM
http://www.zerohedge.com/news/2016-10-06/wti-crude-tops-50
For the first time since July 4th, the front-month WTI Crude futures contract traded above $50 - rallying almost incessantly from $44 when the OPEC 'deal' was announced last week.
The catalyst for the latest move is more jawboning from OPEC, which as reported this morning, came courtesy of Algerian Energy Minister Noureddine Boutarfa who said during an interview on Ennahar television, that OPEC may cut 1% more output than agreed, although since virtually all of that production cut would have to come from Saudi Arabia, we are skeptical about the outcome. Boutarfa also said that OPEC’s initial target is to raise prices to $50-$55 in 2017, and added that it was easier now for OPEC to discuss a deeper cut as group is united, “speaking in one voice” after Algiers meeting.
As has been reported previously, OPEC and non-OPEC producers to hold informal meeting during Oct. 8-13 energy conference in Istanbul, one month before producers are to further assess market at group’s meeting on Nov. 30 in Vienna.
It appears that OPEC has finally figured out the central banker approach to manipulating prices: talk non-stop while doing nothing, and schedule increasingly more frequent meetings at which nothing is decided aside from the planning of future "imminent" meetings.
Meanwhile, going back to the market, we wonder if it is finally time for Oil Vol to drop?
Chart observation... in the past year, no moves much past $50.
Are you projecting that ?
A year of no higher than $50...
*****crude oil futures 5 min . hourly , daily , weekly
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=110697562
MA50 offers no support... should fall in a test of the MA200
OIL UPDATE - HAS THE ADVANCE FINALLY RUN OUT OF STEAM?...
originally published May 30th, 2016 in the Various Reports Sector
http://www.clivemaund.com/article.php?art_id=3819
A factor that has supported oil prices for much of this year has been the persistent “contango”, which means that prices for future delivery of oil are significantly ahead of spot prices, probably caused by the market’s erroneous expectation that the shutting down of capacity will lead to a shortage and thus higher prices. This belief, coupled with high production, has led to an armada of ships bulging with Crude, sitting offshore, with the owners holding the mistaken belief that they will get higher prices later. Thus, the dramatic development of the past few weeks, during which the contango has collapsed, so that it has already become uneconomic to store oil offshore, means that the screw is now being turned on owners storing oil offshore. With the market glutted, and contangos collapsing, owners are being forced into the bizarre position of resorting to debt-funded storage, a highly anomalous solution that is clearly untenable over the longer-term. What this means is that a large number of bulging ships are soon going to race to shore to disgorge their cargoes for what they can get, a development that could magnify the downturn in oil that we are expecting into a rout of plunging prices, made worse by the fact that prices have been artificially elevated by excess storage in expectation of rising prices, which has so far been a self-fulfilling prophecy – but when all storage capacity, onshore and offshore, has been used up, that’s it, it’s game over, and that appears to be the situation that we have arrived at.
P&F chart predicts a bullish price object of $72.
Sector: These Energy Companies Are Most At Risk From The "Spring Redetermination"
Submitted by Tyler Durden on 03/28/2016 21:48 -0400
http://www.zerohedge.com/news/2016-03-28/these-energy-companies-are-most-risk-spring-borrowing-base-redetermination
Finally, courtesy of Haynes and Boone, here is a less impartial perspective thanks to a poll of banks, PE firms, and oil service companies who were asked to share their thoughts on the upcoming spring redetermination. Among the key findings:
- Overall respondents expect 79% of the borrowers to see a decrease in their borrowing base in spring 2016
- Overall respondents, on average, expect to see borrowing bases to decrease by 38% compared to what they were in fall 2015
- As to the most likely path to be taken by lenders and borrowers who face a borrowing base deficiency this spring: 36% of respondents said the would negotiate an amendment or extension with the lender; 31% said they would sell non-core assets; 15% said they would seek capital from a hedge fund or private equity fund; 4% said sell the company; 13% said restructure or declare bankruptcy
Oil prices about to Get LOW...like down to $25 low...big drop coming IMO.
Watch Five Years of Oil Drilling Collapse in Seconds
By Tom Randall, Julian Burgess and Blacki Migliozzi
February 26, 2016
http://www.bloomberg.com/graphics/2016-oil-rigs/
Good Evening Pro-Life,
Could you re-post the complex $WTIC chart with the $USD overlay here at your earliest convenience?
TIA.
Is Something Blowing Up In OIL?
Submitted by Tyler Durden on 01/21/2016 14:13 -0500
http://www.zerohedge.com/news/2016-01-21/something-blowing-oil
*****crude oil futures 5 min . hourly , daily , weekly
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=110697562
Wow. Yes I just read some very applicable stuff - regarding that situation.
Am not very good at my comprehension of such,,,,,
Only could sense that it's sounding real grim.
Contagion ramifications abound they believed.
$WTIC LoL - Where crude means CRASH (not cash)
I'm in favor of saying the next crisis is in Junk Bonds... issued by oil and mining and every conceivable large company that over spent on risky exploration and stock buy back programs... watch a multitude of companies fade away to irrelevance or cease to exist. In other words, irresponsible financial actions at the top of these companies that had executives unable to protect pennies acting as though prices would stay up forever, such as oil, now demonstrably unable to take care of dollars (BILLIONS!!!).
Hmmmmmm... What Crisis Is The Gold/Oil Ratio Predicting This Time?
Submitted by Tyler Durden on 01/17/2016 21:20 -0500
http://www.zerohedge.com/news/2016-01-17/what-crisis-goldoil-ratio-predicting-time
Natural Gas Prices Signaling Oil Bottom for Investors
Submitted by EconMatters on 01/07/2016 20:08 -0500
http://www.zerohedge.com/news/2016-01-07/natural-gas-prices-signaling-oil-bottom-investors
$34 Handle After Record Gasoline Inventory Build
Submitted by Tyler Durden on 01/06/2016 10:39 -0500
http://www.zerohedge.com/news/2016-01-06/wti-crude-plunges-34-handle-gasoline-distillate-inventories-soar
Next Stop for U.S. Natural Gas Is 20-Year Low Amid Warm Weather
Christine Buurma December 15, 2015 — 9:05 AM EST Updated on December 16, 2015 — 4:33 PM EST
http://www.bloomberg.com/news/articles/2015-12-15/natural-gas-futures-extend-slide-to-14-year-low-on-mild-december
Officials say US oil bankruptcies at Great Recession-era levels…
Posted December 25, 2015 7:23 am by PatriotRising
http://patriotrising.com/2015/12/25/officials-say-us-oil-bankruptcies-at-great-recession-era-levels/
For American drillers, the New Year will likely bring more of the same – financial pressure and mass layoffs.
The U.S. petroleum industry hasn’t seen this many bankruptcies in one quarter since the Great Recession, the Federal Reserve Bank of Dallas says, counting nine Chapter 11 court filings in the year’s final three-month period. And that’s just a third of the year’s domestic casualty count.
The Dallas Fed also estimates in a new report on Thursday the nation has lost about 70,000 oil and gas jobs since October 2014, a 14.5 percent drop in the 14 months after the domestic shale drilling boom that drew thousands to Houston’s oil hub began a steep decline.
But the sacrifice of dozens of U.S. oil producers, thousands of oil field workers and more than 1,200 drilling rigs still hasn’t stalled U.S. crude production enough to shrink the global oil glut that has sent oil prices below $40 a barrel.
Global crude supplies, the Fed said, could outpace demand by 600,000 barrels a day, and the world’s crude storage tanks may not start to decline until 2017.
That’s in part because increased production from Iran has come on earlier than anticipated and the Organization of the Petroleum Exporting Countries is expected to continue pumping crude at current levels.
Iran, which expects western sanctions on its oil exports to be eased next year, has said it wants to pump an additional 500,000 barrels a day. Goldman Sachs believes that OPEC, which includes Iran, will boost its daily production in 2016 by 640,000 barrels. But that’s a conservative estimate that assumes Iran will only put out 285,000 barrels a day next year.
Meanwhile, U.S. output has fallen more slowly than expected, with production declines leveling out in recent weeks, according to the U.S. Energy Information Administration, as the market absorbs crude production from drilling activity that happened early last summer, when oil prices were $60 a barrel.
Big-ticket oil projects coming into production in the Gulf of Mexico boosted U.S. supplies by 500,000 barrels a day from July to September, which tempered the decline in the nation’s shale plays.
“Given the great uncertainty surrounding projections and the timing of supply and demand changes, the coming year promises to be a dynamic one for the oil markets,” the Fed said.
U.S. crude rose 53 cents in early trading Thursday to $38.03 a barrel on the New York Mercantile Exchange, climbing 12 percent since the market reached a rock-bottom low a few days ago. Brent, the international benchmark, increased 30 cents to $37.66 a barrel on the ICE Futures Europe.
"Unstoppable" California Gas Leak Now Being Called Worst Catastrophe Since BP Spill
Submitted by Tyler Durden on 12/24/2015 08:19 -0500
http://www.zerohedge.com/news/2015-12-24/unstoppable-california-gas-leak-now-being-called-worst-catastrophe-bp-spill
... the infamous Erin Brockovich writes, "the enormity of the Aliso Canyon gas leak cannot be overstated. Gas is escaping through a ruptured pipe more than 8,000 feet underground, and it shows no signs of stopping," as according to the California Air Resources Board, methane - a greenhouse gas 72 times more impactful in the atmosphere than carbon dioxide - has been escaping from the Aliso Canyon site with force equivalent “to a volcanic eruption” for about two months now.
Banks are massively short Gas and Oil futures:
http://www.cftc.gov/MarketReports/BankParticipationReports/deadec15f
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