Iran is about to start selling oil that may cost just $1 a barrel
- Thread starter Banjo
- Start date
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LOL-true. Its an old trend,extended trend but still the trend is your friend.If it goes to $20 + it could; its still risky math for some one to enter first time.....................................Frankly trend moves with bearish news is bullish-not a prediction
Well, I have a great deal of respect for Pete Steidelmayer, and I absolutely do agree with him that the more TIME that a product spends in a new price range - the more that valuation is accepted by the collective market.
IMHO, you have three dynamics at play:
1. Spec Longs puking their guts out thereby juicing the market to the downside,
2. Commercial Users SCALE buying long term calendar strips as the market moves lower (nibbling - not gulping),
3. Commercial Producers are shitting Tiffany Cufflinks because: a) they just saw the first US Tanker certified for export in 40 years laden with high quality US Sweet Crude (easier to refine) sail out the Houston Ship Channel, and b) Iran holds the second largest proven reserves in the world, and in 2016 they can now legally export sanction-free (for now).
IMHO, you have three dynamics at play:
1. Spec Longs puking their guts out thereby juicing the market to the downside,
2. Commercial Users SCALE buying long term calendar strips as the market moves lower (nibbling - not gulping),
3. Commercial Producers are shitting Tiffany Cufflinks because: a) they just saw the first US Tanker certified for export in 40 years laden with high quality US Sweet Crude (easier to refine) sail out the Houston Ship Channel, and b) Iran holds the second largest proven reserves in the world, and in 2016 they can now legally export sanction-free (for now).
It looks like that the Saoudis in charge are starting to see sense:
some are saying they will avoid a war with Iran.
After my coming retreat, I'll be now opening my oil chart.
http://uk.reuters.com/article/us-saudi-iran-prince-idUKKBN0UL1XG20160107
"Saudi Arabia's Deputy Crown Prince Mohammed bin Salman has said a war between his country and Iran would be the beginning of a catastrophe and Riyadh would not allow it, the Economist reported on Thursday.
It is something that we do not foresee at all, and whoever is pushing toward that is somebody who is not in their right mind," it quoted him as saying in an interview.
The prince, who is also defense minister, added that Riyadh was concerned at what it saw as the United States' adoption of a less engaged role in the Middle East.
"
I wonder if the possibility of the Saoudis becoming refugees, and their ruling family having to become
"Asylum Seekers" in Europe, - not an impossibility in view of what happened to the Syrians - is
bringing some senses into these people. It is true the realities of what happens to "migrants" is
may be not something the Saoudis would have believed if not from live testimonies from their
fellow Syrians : we love their money, but without money they know what to expect.
some are saying they will avoid a war with Iran.
After my coming retreat, I'll be now opening my oil chart.
http://uk.reuters.com/article/us-saudi-iran-prince-idUKKBN0UL1XG20160107
"Saudi Arabia's Deputy Crown Prince Mohammed bin Salman has said a war between his country and Iran would be the beginning of a catastrophe and Riyadh would not allow it, the Economist reported on Thursday.
It is something that we do not foresee at all, and whoever is pushing toward that is somebody who is not in their right mind," it quoted him as saying in an interview.
The prince, who is also defense minister, added that Riyadh was concerned at what it saw as the United States' adoption of a less engaged role in the Middle East.
"
I wonder if the possibility of the Saoudis becoming refugees, and their ruling family having to become
"Asylum Seekers" in Europe, - not an impossibility in view of what happened to the Syrians - is
bringing some senses into these people. It is true the realities of what happens to "migrants" is
may be not something the Saoudis would have believed if not from live testimonies from their
fellow Syrians : we love their money, but without money they know what to expect.
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It looks like it is too late for the Saoudis. It is now countdown for them ( matter of years) before they too - at least their "rulers" - become refugees.