Replies to post #12406 on Viewer's Choice

[littlejohn]

VTLE had me looking foolish today

not buying a 45 put back early and

then selling it again near close...

You can trade calls or puts as

easily as shares...

Need to have some core holdings

in these small oil companies that

are just priced stupidly low now...

No one wants oil price to go way up,

Just double the price on these small

oil companies at the current high

oil prices like they should be...

I'll continue to flip calls or sell a

put occasionally and hold most

shares...

Seen a lot worse times, so that

makes the current pricing look

mighty crooked from my seat...

VTLE seems worth potentially

$120/share or more after closing

the next deal in June...

Now they will drag most likely to

about the last day of month,,,

to get deal included in all of third

quarter with costs out in 2nd quarter,,,

and big cash outlay put off until

last day possible...

Filled up last fuel container empty today...

Why do they call plastic gas containers

gas cans?...they Ain't cans...


So we watch...LJ

[littlejohn]

Saudi Arabia said Greedy Speculators drove oil

price up in 2022, and that the oil

market was well supplied...

Every country was selling all the

oil the world Wanted...

Saudi Arabia wants $80/bbl to $85/bbl

Brent pricing for oil...

Most companies around the globe need

a higher price to justify higher drilling costs...


Flash forward to 2023...

Oil demand is higher than in 2022...

Saudi Arabia says that Shorts in Oil

price are keeping price too low

by a scheme they are running...

Big money in oil price controls and

sets the oil price...

This article link shows graph where

SA was exporting about same amount

of oil a year ago, but those exports started

falling in May, 2022 as China started buying

less oil due to rising price...

https://hfir.substack.com/p/the-saudi-put?r=f2v8q&utm_medium=ios&utm_campaign=post

Greedy speculators who controlled oil

price in 2022 pushed it way up after

demand fall started in May, 2022...

And now they have pushed prices

down twice in 2023 with world oil

demand rising,,,

and U.S. fuel demand has averaged

over 2% increase over year ago

since March of 2023,,,

Two dumps on oil price since March...

Critics try to imply that Saudi Arabia

acts alone,

but that is far from true...

When other Opec countries and outside

oil companies see pressure to push the

oil price back up, they will hold back

on sales when possible and will tighten

the noose on the Big Oil Shorts...

Count on that like Peter Wrote it On

The Rock...

All this haggling by big money over a

simple $80 Brent price target...

Who is anyone gonna call in August

if a big hurricane plows into gulf...

Oil Shorts have unlisted numbers...


So we watch...LJ

[littlejohn]

Very squally off Belize and Honduras this

afternoon and overnight...

Mostly stationary with heavy rains...

Steering is coming off Africa into

Venezuela but very moderate...

Very stationary in Caribbean is causing

temps to maintain levels...

Only slight steering in Gulf of Mexico

to move anything now...

A change in steering in Gulf of Mexico

will be needed to release energy

built up in the Caribbean so far...


So we watch...LJ