Exactly, oil up now after US markets closed it only went into free fall when the bears hit oil as soon as the market opend at 9:30 it dropped on green positive money flow but the ask just kept getting refilled. Many may think I am crazy but politics is played in this energy game. It is only short lived as events overtake what newspapers push, yesterday right at the start of the day doubt was sewn whether the attacks were real,they were alleged, supposed and if real they were Trump, Russia and the Saudi's conspiring to do it so that Trump, Russia and the Saudi's could get even more rich?
Truth is oil stocks down last week and a half, Chinese trade hooplah will have almost zero effect on oil in the long run, oil is what oil is a needed and used product left or right of the political spectrum it is used in a HUGE way every day and nothing will stop that. Not the climate changers that hate oil and want all electric vehicles, Tesla is proof that it is not at the moment (maybe 50-60 years from now) a sound business reality.
All the money thrown at EV's and they are what everyone thought they were a very small small small part of a very large market and will remain as such. Look at your own lives what happens as Memorial day passes? The hews will be flooded with travel vacations etc etc etc, high il prices, its reality, tried and true over the decades. For a month now the Middle East has been tense started with Palestinians taking to a whole other level last week with heavy rocket attacks until Israel responded with warplanes, that hasn't happened in a long time to such an extent. Then Iran came out with its navy getting half stupid in the gulf this weekend referring to the US naval vessels in the gulf as targets.
Now the attacks on 4 US media only reporting 2 but gulf media news is reporting 4 pay attention to news and what it really means. Journalists and talking heads play political games with the news. It is more tense in the gulf than it has in a very long time.
But, even without the reality of summer spike coming and possibly a supply problem from the gulf tensions that could pop off, at these prices with are 23% higher than Q1 with capex having been cut to the bone for this next year to pay down debt and get financially sound again, every day is a good day.
We produce 76,267 barrels of oil per day avg in Q1 with 26 to be completed and producing this Q at a avg thus far of 63+ per Bbl of oil compared to $53.79 per Bbl in Q1 that's $767,267 a day more in revenue on average than Q1 as oil rises this Q which will happen that's more and more building SNEC up. In a quarter add that up see what you get, you get Sanchez getting sorted plain and simple arithmetic.
SNEC with oil $70 plus which is coming, forget about it and if the mid east pops off $80 a barrel s not out of the question look at historical prices when things pop off. pay attention to what really matters with oil, has almost zero to do with China I don't care what the talking heads say, cars going to drive semi-trucks going to deliver goods as will planes which will increase as the summer hits and as will increased military maneuvers you think those increased ships coming out of ports and increased jets in the air don't eat a ton of fuel/oil? look at historical facts, not media with an agenda.
This isn't about SNEC when t comes to oil although it is great for SNEC its about the entire sector, I have jumped in everything from depressed pushed down companies like SNEC and $USO Oil ETF's which are all about oil not a company its all about the sector and its ready to let the bull loose watch and see.
Dig for news, real news on whats going on with oil. From one media political talking heads tonight on news media opinion shows. "The tanker attack was such an obvious plot to raise Oil prices" "Trump needs US voters engaged in any distraction from pending Mueller testimony."
"Kremlin needs US engaged in a military conflict anywhere, preferably with side benefit of ramping oil prices."
" "Claim of Attacks on 4 Oil Vessels Raises Tensions in Middle East" - NY Times 'Select interests' seem to be trying to start a war with Iran. Who would this catastrophe benefit? A distraction for Donald Trump and higher oil prices for Saudi Arabia & Russia"
Who says things like that? This is real world events and these people see conspiracies everywhere? They aren't media they are editorial opinion writers/speakers. Pay attention, the price of oil is 1% China 99% the rest of the world especially the #1 influence on world oil the Persian Gulf.
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