Replies to post #514036 on Zeev's Turnips Patch-No Politics (ZEEV)

[madrose1]

POO $57.73 and just treading water down here ....

did a ss on SLB earlier as was at a D-top on the 60min @ $66....they were predicting a very cold winter earlier and the Opec noise which pushed these higher but so far really balmy weather back east ...

like who can predict ??

lots of driving and gas usage around the holidays and temps could start to dip after ( maybe)

[madrose1]

Floor Talk: Energy

Crude and Natural Gas are both seeing selling today, following this morning's Natural Gas Inventory data, which showed that inventories rose 5 bcf to 3450 bcf. Analysts were expecting a build of 7 bcf... We also note that Dec crude oil expires tomorrow, and some think we may see selling pressure in the next 24 hours since Jan crude is trading at $61.10, above the key $60 level many OPEC members have been focusing on. The thought is that at the current level, OPEC would not cut production in Dec. There is also chatter that Venezuela is not living up to its output cut agreement... Crude is currently off 60 cents to $57.77pbl, just above the 57.52 session low. Natty gas is off 19 cents to $7.92mbtu.

[madrose1]

cov'd SLB $63.80 area from $66 am ....POO might just hold above $56 , lol....Oil took a big hit today


mild weather was it , poo @ $56.15

[madrose1]

maybe cov'd SLB too soon , but here's the OB/d-top on the 60min

right at $66..hit $66.10 this am <GG