Crude is screwed, man.

franT said:
IMO, the bottom line is this: in general, if successful/rich/etc people will claim skill over luck, if unsuccessful/poor/etc people will claim bad luck. In the first instance, "successful" people will immediately feel experts enough to excrete their opinions in other fields as if they were more likely to be right. This is wonderful in trading, as doctors, engineers, bankers, zebras, gnus, caffers and whatever else, will bring their hard earned money and lose it to traders like me, true rarities, who never issue any refunds, for any reason.
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There is another possibility , NOT saying any should try this @ home and anywhere. I was buying gasoline@ BP oil + gas station, they sell lottery tickets also. So i asked the lottery ticket buyer guy, in front of me''ever won anything in the lottery??'' He said, perhaps unusual for a gambler to tell the truth ''NO but i got close'' LOL-LOL
 
With the Qatari embargo by Egypt, Bahrain, Saudi Arabia and the like, not to mention that Egypt can put a stop to Qatari LNG travelling through the Suez Canal, this could be an opportunity to be negative against LNG, should Egypt decide to tighten its grasp upon the Suez.

DHT Holdings owns the only tankers still taking on cargoes in Qatar, Saudi Arabia, and the UAE
http://www.dhtankers.com/index.php?name=Stock_Information/Stock_Chart.html

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dealmaker said:
The chart shows the reason behind the ascension of Saudi Crown Prince Mohammed Bin Salman as oil price looks lower for longer. (via BBG) "https://t.co/R9GJN9lnAS"
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Mr/Prince Mo Bin Salman has a fun job; as oil -price gets lower-- they can pump more black gold + still rake off a nice profit LOL Its an Arabian advantage== a low cost producer..........................................................................................................
 
murray t turtle said:
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Mr/Prince Mo Bin Salman has a fun job; as oil -price gets lower-- they can pump more black gold + still rake off a nice profit LOL Its an Arabian advantage== a low cost producer..........................................................................................................
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and they'll need it as they see Iran, another oil producer as their biggest enemy...
 
Maverick74 said:
https://www.bloomberg.com/view/arti...aders-are-looking-at-the-wrong-inventory-data

This is an excellent article. You guys might want to read it. Pretty much is on par with my thesis.
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Here's a quote from that article.

"If technicals were to break the trend of higher lows, this would likely trigger a significant selloff. But with product inventories recently falling by the most in more than a decade, very wide gasoline crack spreads, OPEC supply cuts likely to continue, and expansions in global demand, it is difficult to imagine how oil prices could collapse immediately ahead of the summer driving season..."

And here we are, immediately ahead of the summer driving season. Nymex WTI just passed below $43 per bbl today? Hmm.
 
Overnight said:
Here's a quote from that article.

"If technicals were to break the trend of higher lows, this would likely trigger a significant selloff. But with product inventories recently falling by the most in more than a decade, very wide gasoline crack spreads, OPEC supply cuts likely to continue, and expansions in global demand, it is difficult to imagine how oil prices could collapse immediately ahead of the summer driving season..."

And here we are, immediately ahead of the summer driving season. Nymex WTI just passed below $43 per bbl today? Hmm.
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Apparently you don't look at the cracks because they have been crushed. Both heating oil and gasoline cracks. The refiners are the marginal buyer of crude and with crack spreads decimated, they are not going to buy.
 
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