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Looks to me like the PPT is manipulating this down.
Why hasn’t this jumped the 2x like oil prices up 10.6 %. The stock only went up the same. It should have rose 21.2
OPEC+ members announced voluntary oil output cuts with Saudi Arabia to reduce production by 500k bpd from May until year-end and Russia will also cut by 500k bpd until year-end as a precautionary measure against further market volatility.
Furthermore, Iraq is to lower output by 211k bpd, UAE will cut output by 144k bpd,
Kuwait will cut 128k bpd and Oman will reduce output by 40k bpd, according to Reuters.
It was also separately reported that more OPEC+ member states are expected to announce voluntary cuts, according to Energy Intel’s Bakr.
https://www.zerohedge.com/markets/weekend-news-round-newsquawk-asia-pac-market-open-32
Cheers
Anything with the name, Bloomberg, is a death sentence. Non-stop failure.
We stop putting 1.5 Mil barrels a day onto the market from the SPR. Then we have to start BUYING oil to replenish our reserves
And oil isn’t going up? Good grief!
GLTA
ProShares Announces ETF Share Splits;
https://finance.yahoo.com/news/proshares-announces-etf-share-splits-210000263.html
Cheers
All "Hail!" to the PPT. Manipulating the price of oil down to "sanity zone". Shucks ... maybe Yellen can get a barrel of oil down to $50 at the rate she's going.
I think "sanctions" have been launched against earl/UCO yesterday and today.
Next leg up however? $150 a barrel.
Part of the "profession - hobby" isn't it?
I'm expecting earl to move on up to $150 a barrel in due time so I'll get my money back plus some extra.
Thanks. Just to be clear, I bought some shares. Not the 18,000 calls. I had a similar trade on jnug, bought a few days ago for 79 watched it spike up and ended to sell it today for a looser. Live and learn. Owch.
Wow - way to go! I bought shares of UCO last of the day yesterday at $194.60 a share. Boy did I get the wind kicked out of me today waking up to the oil price earthquake.
LOVE THE FED (Plunge Protection Team). LIVE AND LEARN.
New here, but bought SCO yesterday after seeing 18,000 SCO $5 calls trade for 3/18/22 expiration.
If I didn't know better, I would swear that the PPT is shorting UCO today.
Anyone REALLY know who has been buying Venezuela oil in the last several months?
Last I remember about a year ago roughly, China was buying a lot.
right just checking
Quite the opposite.
John: Are you implying if we import from Venezuela, Iran and OPEC that oil prices will continue to rise?
man-o-man, this thing is jumping all over the place. Gotta watch it closely.
IF, and that's a big IF, our president opens keystone, this ticker will drop like a big rock.
Historically, Crude oil reached an all time high of 147.27 in July of 2008.
it most likely will. if so, i will promptly sell and take profits. i will need those profits for car gasoline. LOL
I threw all of my dice on OPEC. No help. And where is Iran?
I saw $150.00, some pendants $120.00, could match all-time high.
did u put some salt on that hat?
CRUDE will possibly find $100
at which point 1/3 of funds hits URGD and DRIP.
If it hits $105 then the 2nd 1/3 is invested.
Finally, the outside chance is $110. The last NRGD and DRIP bought.
If crude hits $115 I eat my hat.
IMO
Think about earl. As long as the Rooskie's stay parked at the Ukrainian border, the threat of higher oil will continue. Russia's economy is roughly hinged at about 70% income from earl. Thus the longer there's a threat of war with Ukraine, the STRONGER Russia's economy gets because of the continued high price of earl.
Putin isn't stupid by any means. He LOVES high priced earl.
Time to get this puppy UPDATED! UCO is headed much, much higher IMO!
What a ride from 15.75 to 97.01
sold half today...Im not greedy
Yeah funny that the charts start around 1978 and at that time I was the owner of a dental lab and went into business that same year and started buying silver bars back then and looking at the charts it was at it's low. But I never kept them bars. LOL
When will silver price hit all-time highs? The most bullish charts you'll see – Jeff Christian
Trying this out. Seems to work outside the box of the actual crude prices by using future options? First time in.
$uco $55.65 ^ 4.08 (7.91%)
Volume: 1,452,518 @03/26/21 8:00:00 PM EDT
$uco $55.4 v -3.12 (-5.33%)
Volume: 1,449,627 @02/26/21 7:59:11 PM EST
$uco $47.7 ^ 1.09 (2.34%)
Volume: 1,997,891 @02/05/21 8:00:00 PM EST
$uco $41.95 v -0.01 (-0.02%)
Volume: 1,075,322 @01/21/21 7:59:21 PM EST
$uco $33.82 v -1.72 (-4.84%)
Volume: 3,214,404 @12/22/20 7:59:57 PM EST
$uco $32.78 v -0.26 (-0.79%)
Volume: 1,831,581 @11/27/20 4:35:48 PM EST
$uco $29.1 ^ 0.46 (1.61%)
Volume: 4,846,482 @11/11/20 4:40:07 PM EST
$uco $22.7 v -0.39 (-1.69%)
Volume: 4,075,699 @10/30/20 8:00:00 PM EDT
dropped em off 1.45 have a good day
got 10 weekly 22 dollar calls for .75 each
I’m adding more today too. A little concerned but oil would have to drop to around $20/barrel to totally crash this and I don’t see that happening...hopefully
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