Out 9790
CL Redux
- Thread starter schizo
- Start date
Oil Slips as Saudi Arabia Offers to Offset Missing Libya Supply
http://www.businessweek.com/news/20...ia-offers-to-offset-missing-libya-supply.html
Feb. 28 (Bloomberg) -- Oil fell as Saudi Arabia offered to make up for supplies lost because of unrest in Libya and on reports the North African country is exporting crude.
Futures slipped as much as 0.9 percent in New York after Chief Executive Officer Khalid Al-Falih said the Saudi Arabian Oil Co. is ready to compensate for any shortfall in crude supply. Most ships picking up Libyan oil cargoes have done so successfully in the past week, said Bob Knight, head of tankers at Clarkson Plc, the worldâs largest shipbroker.
âThe Saudi offer to make up for any missing barrels has calmed things a bit,â said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts. âMost of Libyan supplies come from parts of the country that are under control of anti-government forces who will want to get them up and running as soon as possible.â
http://www.businessweek.com/news/20...ia-offers-to-offset-missing-libya-supply.html
Feb. 28 (Bloomberg) -- Oil fell as Saudi Arabia offered to make up for supplies lost because of unrest in Libya and on reports the North African country is exporting crude.
Futures slipped as much as 0.9 percent in New York after Chief Executive Officer Khalid Al-Falih said the Saudi Arabian Oil Co. is ready to compensate for any shortfall in crude supply. Most ships picking up Libyan oil cargoes have done so successfully in the past week, said Bob Knight, head of tankers at Clarkson Plc, the worldâs largest shipbroker.
âThe Saudi offer to make up for any missing barrels has calmed things a bit,â said Michael Lynch, president of Strategic Energy & Economic Research in Winchester, Massachusetts. âMost of Libyan supplies come from parts of the country that are under control of anti-government forces who will want to get them up and running as soon as possible.â
Thanks for the advice, tzachi - it's complicated
Not sure what this was about, however I don't think I post trades after the fact with a couple of exceptions due to no internet connection for which I've provided blotters. ??? Let's keep the peace, least we go the way of the ES thread.
Quote from NoDoji:
2. I haven't traded long one single time today
I think you have an edge there. Even a few hours seems to be too long a time frame to hold such rapidly depreciating stuff like leveraged ETFs or CL with their 30-50% annual time decay... it is probably wise to use the cash-settled Brent for longs, while keeping CL for shorting only (that way some funds trade the stock index futures basis), until the convergence of this spread finally becomes apparent (driving season?)
Long 9760
Hope you're back, looks like you just got filled.