Originally Posted by
Crackity
Well it did start the year at the $2.15 mark so it has had a good rise this year.
However Rog has just bought in about this level so he sees more upside - it will be a good final dividend I think ( I would say at least 10cps ) and the interim of 5cps was unexpected.
A lot of the overseas refineries own the oil they process - the volatility ( $40 to $50 to $40 again) plays havoc with their inventory valuations and it seems they try to increase their margins to compensate.
i have been holding all year and am not tempted to sell yet - don't think I would buy at current levels though...
hope this helps :)