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Thread: Crude Oil

  1. #331
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    Shrewdy,
    Maybe MBS and Putin understood how painful this virus is...and is going to be. I am getting real worried about a total world shut down.
    ps Don't believe Trump's claim it will be all over by Easter.
    Best
    to
    you Shrewdy and stay isolated.

  2. #332
    Senior Member Valuegrowth's Avatar
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    Corona invaded into commodity market as well.

    Oil should bounce back in the second half of 2020. It can happen next week or next month too if corona statistics come true. I expect the average price of Brent at $35 to 40 per barrel in 2020. China is stockpiling oil. The United States also want to buy crude oil for the Strategic petroleum Reserve. Low commodities prices are boon for many industries.

    https://oilprice.com/Latest-Energy-N...m-Reserve.html

  3. #333
    FEAR n GREED JBmurc's Avatar
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    Quote Originally Posted by bermuda View Post
    Shrewdy,
    Maybe MBS and Putin understood how painful this virus is...and is going to be. I am getting real worried about a total world shut down.
    ps Don't believe Trump's claim it will be all over by Easter.
    Best
    to
    you Shrewdy and stay isolated.
    I agree bermuda ... I'm sure your not to leveraged or exposed but I've certainly taken the losses and moved funds out from the energy sector ... going take some time to see crude demands back at longer term averages ..2021-22 etc ... I'll be very surprised to see Brent over $40bbl this year .. far too many energy producing nation's with excess supply..

    Only hope is US Shale + Tar sands operations grind to a halt must be a list of bankruptcies coming 2H20 at these levels
    Last edited by JBmurc; 26-03-2020 at 10:51 PM.
    People don't have ideas, ideas have people

  4. #334
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    Yeah wheres the excess production all going. im hearing about all those supertankers that are storing what, a billion or so barrels, and super con tango ahead. Interesting times and firsts on so many levels.

  5. #335
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    Thank you Bermuda,
    Look after yourself sir...

    Quote Originally Posted by Joshuatree View Post
    Yeah wheres the excess production all going. im hearing about all those supertankers that are storing what, a billion or so barrels, and super con tango ahead. Interesting times and firsts on so many levels.
    Straight into boosting Strategic petroleum reserves (spr)...
    ....


    .^sc
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  6. #336

  7. #337
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    LOL and just like the end of the oil 'ego' price war ....
    cc
    >>>http://www.coinmarketcap.com
    <<<
    The fastest growing asset class the world has ever seen

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