CRUDE!

I'm long Encana (TSX:ECA); hopefully it will get a boost. Back in May 2016 Fort McMurray, Alberta, a small city here in Alberta that produces about 2% of the world's crude (2 million bbl/day) had a big fire and some of the production got shut down temporarily. That sent oil prices up a little bit, maybe $2 or so. But one thing is for sure: Saudi does 10 million barrel a day, way more than Fort Mac, and if half of Saudi Arabia's oil production gets taken out, it will jump up oil prices, a lot more than $2 I would think.
 
KhingoBhingo said:
I'm long Encana (TSX:ECA); hopefully it will get a boost. Back in May 2016 Fort McMurray, Alberta, a small city here in Alberta that produces about 2% of the world's crude (2 million bbl/day) had a big fire and some of the production got shut down temporarily. That sent oil prices up a little bit, maybe $2 or so. But one thing is for sure: Saudi does 10 million barrel a day, way more than Fort Mac, and if half of Saudi Arabia's oil production gets taken out, it will jump up oil prices, a lot more than $2 I would think.
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I am also long some Oil stocks on TSX from about 2 weeks ago. This should be great for the position. The TSX energy index looks like its been putting in a bottoming formation since early August. This should be a the catalyst to send it flying.
 
Some guy on CNBC thinks it might gap $10 hah. Not sure about that but 5 is realistic. Extended conflict definitely gives it upside.

Wonder if the drone technology was from our drone that they managed to capture a while back. Israel said they did a good job of reverse engineering it.
 
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