OIL SET TO surge Monday. Record oil production cut! Intervention is everywhere

S2007S said:
Thought we could be driving with gas prices below a $1.50 for a long long long time, like 3-4-5 years, but that hope was completely destroyed moments ago...Whether its equities, housing prices, refinance rates, and now oil prices, nothing stays down, everything is forced higher with fed intervention, butttttt the interest rates big happy banks get to borrow at, they are the luckiest to enjoy the low low low low rate set by the Federal reserve, we get to borrow that money at significant higher borrowing costs and of course any savings, well there is absolutely no such thing as a savings rate any more, thanks to the fed and their big bailout plans that leaves out all savers!!!!!

But yep oil should surge by 15-20% tonight.


https://www.cnbc.com/2020/04/12/ope...-production-cut-after-days-of-discussion.html
More...

Omg what if I held those 7 CLV20's ?!?!

@Overnight
 
ZBZB said:
Why is Putin not asking for the sanctions to be lifted? Maybe he is in private. Russia stopped buying gold last week when they got to 20% of reserves. It looked like Russia was winning and then they went soft.
More...
Putin doesn't go soft. He is not a Western leader.
 
Price of oil will skyrocket when the economies of countries open up. That will spur greater oil consumption overnight like a volcano spewing up ash and lava flowing in huge quantities. That could happen within the next 2 months. This step stabilizes oil prices. Saudi Arabia was not going to win this oil price war anyway. Russia supplies natural gas to Europe in huge quantities so, they have revenue coming in even if they take a loss on the oil. Saudi Arabia burned its cash reserves yet, again. They still have to buy food and US weapons. Expensive to wage war in Yemen and other countries. They tried to destroy US shale oil before and used the same stunt and failed. It only hurt them. Now breakeven for Saudi Arabia and US shale oil producers is at $40 a barrel. US shale oil producers just stopped pumping oil and stored their oil in rented oil tankers they parked near Asia where demand is heaviest. When prices rise, US shale oil producers can sell that oil.
 
LacesOut said:
You mean it will rocket to the sky to prices not seen since ... Thursday?
If we go up $2...I won’t be surprised.
Would be less surprised to see us retest sub $20.
More...



Sub 20.is a possibility but now with the fed in every corner of the market it will be a tough call.
 
So what are you trading? I'm in APA HAL UCO OXY from last week, will likely sell premkt if big gap that fades, will reenter if they go up.. . Ca-ching
 
Meh, figures. I picked up some MRO APR 17 $6 calls for 5 cents a couple weeks ago, but sold them already because I didn't think they'd go up anymore before expiration. I'm going to be mad if those end up a 10 or 20 bagger on monday.
 
Amun Ra said:
Meh, figures. I picked up some MRO APR 17 $6 calls for 5 cents a couple weeks ago, but sold them already because I didn't think they'd go up anymore before expiration. I'm going to be mad if those end up a 10 or 20 bagger on monday.
More...
Be angry don't go mad (insane).:)

Move on.
 
You must log in or register to reply here.
Back
Top