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  • Oil prices cut losses after EIA says crude supplies rose 3.5 million barrels

    From marketwatch.com

    Oil futures pared losses on Wednesday after the U.S. Energy Information Administration reported a 3.5 million-barrel climb in crude-oil supplies for the week ended Feb. 19. That was below the 7.1 million-barrel increase reported by the American Petroleum Institute, but above the rise of 3 million barrels expected by analysts polled by Platts. Gasoline supplies fell 2.2 million barrels, while distillate stockpiles declined by 1.7 million barrels last week, according to the EIA. April crude CLJ6, -3.14% was at $31.37 a barrel on the New York Mercantile Exchange, down 50 cents, or 1.6%. Prices traded at $30.92 before ... (full story)

Market now will take short breath after a deep dip.
API was wrong again...
My hands are a bit oily from last night's session but I bought some more oil. Let's see.
The main thing to understand........... yesterday Arabs news flash about supply ,,,,,,,, a systematic strategy of API

More lower the price it is much better to big chances to win ,,,,,
Here is a golden strategy ,,,,,, buy oil stock or CFD and cell Future on that ,,,,,,,,, an unbeatable strategy than any other ,,,,,, you see the basis ??? it is as more as 4 % a month and yield a 48 % per anom .
Quoting saarung
Here is a golden strategy ,,,,,, buy oil stock or CFD and cell Future on that ,,,,,,,,, an unbeatable strategy than any other ,,,,,, you see the basis ??? it is as more as 4 % a month and yield a 48 % per anom .
roll over charges on margins will take away most of the profits !!!
Data +ve, Oil buy, Data -ve SELL Oil. last couple of weeks this is going on. and may be right now?
market is going crazy for now...
good data to push oil then oil up > reason : "chance to buy low"

news without direction push oil up > reason : "bottom fishing"

i don't get what is happening anymore but i think this is a bad news to oil so logically it will push it down.
Breaking news: last chance to buy OIL on HUGE daily ascending triangle.
Oil production frozen at record levels. Supply will continue to increase. The world is flooded with oil.
Quoting Tony112
Breaking news: last chance to buy OIL on HUGE daily ascending triangle.

Smoke a joint and chill dude
Quoting fxx360
roll over charges on margins will take away most of the profits !!!
Yes of course rollover charges may engulf profits ,,,,,,,,, but do it manually every month sweet bro and then see.......
Here is a unique quest ? ,,,,,,,,, why oil futures are trading so above as 3 to 4 % per month basis ,,,,,,,,, why why ,,,,,,,,,, oil is consumable goods and technically its futures should be less than spot price ,,,,,,,,,,,,,, any one can solve it ??? there is a big reason behind this .
  •  Guest
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@saarung, because of storage costs, anything else?
the worlds fleet of tankers is waiting at sea to off-load. Not much head-room for crude to rise on a fundamental basis. It was far too low (panic sell) below, 30. $42 seems too high for this jump. $37 or maybe 41.65 tops, before enough ships off-load to bury demand again.
even pirates do not hijack oil tankers, because oil is too cheap...
Quoting Guest
@saarung, because of storage costs, anything else?
No bro storage cost is not an issue its mean that oil refineries are going out of business and their convenience yield is almost less than their total costs ... lets take a look

MP of Future = [(spot price +interest rate+storage costs)-convenience yield of industry ]
Quoting wlarimer
the worlds fleet of tankers is waiting at sea to off-load. Not much head-room for crude to rise on a fundamental basis. It was far too low (panic sell) below, 30. $42 seems too high for this jump. $37 or maybe 41.65 tops, before enough ships off-load to bury demand again.

Imagine all those tankers that are going to rust away leaking oil for decades to come.
see the big boys said bigger is better well now they get theres
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