Oil Price Spike?!?

kmiklas said:
Methinks they're trying to kill shale.
More...
It would make perfect sense. Russia isn't usually taking acts of agressions with such zen like patience. I had the same thought a while back but filed it under Conspiracy :)
 
kmiklas said:
Methinks they're trying to kill shale.
More...

Eh, as someone pointed out, shale are relatively low cost, fast uptime operations. You'd be cutting the nose to spite the face.

Likely Putin wants sanctions lifted or Saudi wants action in Iran as concessions
 
I aksed my fellow broker, Joe Easton: some FCMs have increased margin on CL today due to extra volatility. USA in talks with Russia and an OPEC meeting coming Friday.
upload_2020-4-2_10-6-19.png
 
KCalhoun said:
We were following GUSH USO HAL OXY in my chatroom today. It'll be interesting to see if pop n drop or closes at highs.

I got stopped out last couple weeks trying to bottomfish oil so I'm cautious now
More...
%%
I missed the move in DRIP;
but >> than $500/ETF [ presplit price]- i watched the Clint Eastwood TX western ''Hang 'Em Hi ''
The 30% daily spikes did not really bother me. but since it pulled back more than TQQQ or SQQQ, I'm still cautious on that sector.
Another one of the main reasons for doing some of that sector- the mainstream media hates it so much+ they tend to be wrong about 97 to 99.97% of the time.Over a long period of time TQQQ + SQQQ most likely will do better except for dividends...………………………...……………
.
I got a strange negative broker email about futures related oil + gas ETFs,+ I had my nat gas charts form $1 to$ 14; so
I never did trade that non dividend sector much anyway.
 
f**ng shitshow, would've hated to have been on the wrong end:
https://www.bloomberg.com/news/arti...dis-russia-will-cut-production-after-mbs-call
Trump’s Disputed Claim of Saudi, Russia Oil Cuts Jolts Markets

Immediately following Trump’s tweet, Saudi Arabia said it had called an “urgent meeting” of the OPEC+ alliance that includes Russia, as well as other unnamed nations, to discuss a “fair agreement,” signaling it would only cut output if others do so.

One person familiar with the Trump administration’s discussions with the Saudis said there was widespread internal confusion about what the president meant by his tweet and that the figures he posted may not be reliable.

Trump also said he had spoken to Saudi Prince Mohammed bin Salman, who had in turn spoken with Russian President Vladimir Putin. But a Kremlin spokesman, Dmitry Peskov, said the conversation hadn’t happened and that no production cut had been agreed with the Saudis.

The White House declined to comment on the tweets. Crude oil futures in New York surged as much as 35%. Prices have since retreated and were up about 21% at $24.58 a barrel at 1:39 p.m.


 
Amazing that some bs tweet (with no confirmation) can move the market 35%+ in a few minutes. Trump must be making millions front-running his ridiculous exaggerated tweets. Would love to be his commodities broker.
 
You must log in or register to reply here.
Back
Top