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  • Oil To Hit $100? Half Of Saudi Oil Output Shut After Drone Strikes Cripple World's Largest Oil Processing Facility

    From zerohedge.com

    The WSJ is out with an update hinting at just how much the price of oil is set to soar when trading reopens late on Sunday after the Houthi drone attack on the largest Saudi oil processing plant: Saudi Arabia is shutting down about half of its oil output after apparently coordinated drone strikes hit Saudi production facilities, people familiar with the matter said, in what Yemen’s Houthi rebels described as one of their largest-ever attacks inside the kingdom. The production shutdown amounts to a loss of about five million barrels a day, the people said, roughly 5% of the world’s daily production of crude oil. ... (full story)

this is great. Payback time!
  •  Guest
  • | IP XX.XXX.14.99
Demand and supply and of course the error prone estimates and projections of participants will be heightened by this event - so yes directed volatility. I do hope it hits 200$ though in the process and becomes sticky in that range for a bit. We need the money in my country. Clearly one sense in which bad news might be good news ------->>> and of course why one mans meat is another's........
  •  Guest
  • | IP XX.XXX.141.38
Russia will sell any amount of oil, there was too much of it on the market and OPEC participants limited sales. There will be no oil shortage, do not be alarmed.
Don’t leave trades open in the week-end or off market hours (holidays or market halted) Be careful with special market hours during holidays.
probably not, they can just process the oil elsewhere, and the US can release from the SPR
what I can say is, trades are in for a shock when markets open on Monday ... in less than 24hrs ..
  •  Guest
  • | IP XXX.XX.107.218
Japan bank holiday tomorrow. Another flash crash incoming?
$100? That seems a bit dramatic for a drone attack.
Quoting Goat
$100? That seems a bit dramatic for a drone attack.
And Saudi's officials said all be back on monday... sell the spikes
Just be REALLY careful though folks going full in on long! The Saudi's say that they might have things in order come Monday so, it may turn out to be a mere blip xxx
Wonder if this will spike CADJPY up.
Wonder if they did this to get oil price up
After all the talk about cutting down this looks like an obvious theatrical scene to bring prices up, plus how it happened on a Saturday CAD's drop might be interrupted unless we do see things settle quickly..
Aren't we in between risk on and off at this time? A drone attack reminds us of sudden events. Be alert!
Quoting Oc6oph
Wonder if they did this to get oil price up
yes... looks a bit fishy given the bigger picture.. but let's see how it unfolds tomorrow.
And Saudi's officials said all be back on monday... sell the spikes - dumbest comment I've seen in here in a while.

You obviously have no idea how oil refining works. You can't have it all back online on Monday, beyond ridic.

Massive explosions and fire, this facility will take weeks to repair.
Here we go. that didn't take long.

US War Hawk Nut Case Senator Graham Responds to Saudi Refinery Attack.

Lindsey Graham suggests the U.S. should strike Iranian oil refineries in response an attack by Yemen on Saudi Arabia.

In response to Yemeni Drone Strikes That Shut Down Half of Saudi Arabia Oil Production senator Lindsey Graham (R-S.C.) wants the US to strike at Iran, an outside party.
risk off!
Quoting Oc6oph
Wonder if this will spike CADJPY up.
Not sure, JPY will act as safe heaven.
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  • | IP XX.XX.248.240
Quoting asgcorp
And Saudi's officials said all be back on monday... sell the spikes - dumbest comment I've seen in here in a while. You obviously have no idea how oil refining works. You can't have it all back online on Monday, beyond ridic. Massive explosions and fire, this facility will take weeks to repair.
Disagree. I think damage is very limited. All the dramatic imagery of huge fire balls is just precautionary flaring, necessary when shutting down for even a short period.

Let’s see what the markets want to do. But I sense this will be forgotten by Tuesday.
I would be careful, if i were you ... the Saudi's maybe about to do a U-turn on Oil policy!
Wait & see
Wonder what is gonna happen to USD, with their major oil supplier hit..............
Quoting Goat
$100? That seems a bit dramatic for a drone attack.
they try to make big trap for us the small traders
Quoting Aaafx-trader
I would be careful, if i were you ... the Saudi's maybe about to do a U-turn on Oil policy! Wait & see
when return
to normal oil producing sell the oil to fill the gap
Quoting asgcorp
Massive explosions and fire, this facility will take weeks to repair.
this is hollywood s drama not that big thing cause they stop the fire very quickly but it maybe thr reason to attack Iran
Quoting Goat
$100? That seems a bit dramatic for a drone attack.
in November
not now
Quoting asgcorp
Here we go. that didn't take long. US War Hawk Nut Case Senator Graham Responds to Saudi Refinery Attack. Lindsey Graham suggests the U.S. should strike Iranian oil refineries in response an attack by Yemen on Saudi Arabia. In response to Yemeni Drone Strikes That Shut Down Half of Saudi Arabia Oil Production senator Lindsey Graham (R-S.C.) wants the US to strike at Iran, an outside party.
Attacking Iran will burn the middle east at all .. the wwIII will start
What idiot published this forecast? Gone long on oil?
Quoting asgcorp
And Saudi's officials said all be back on monday... sell the spikes - dumbest comment I've seen in here in a while. You obviously have no idea how oil refining works. You can't have it all back online on Monday, beyond ridic. Massive explosions and fire, this facility will take weeks to repair.
weeks to repair?? no way!! i'm a piping designer by day....this will take 6 months - year, min. and who is to say they wont have more drone strikes??
Quoting pipqueen18
{quote} weeks to repair?? no way!! i'm a piping designer by day....this will take 6 months - year, min. and who is to say they wont have more drone strikes??
Exactly but there is enough spare capacity in the world to compensate, but not immediately. It does take a little time. Also, Drone strikes this time are a surprise, but the cat's out now...

Something this thread isn't talking about is the need to Aramco's IPO to be supported by a solid price on crude (and somewhere in the 60's isn't enough.. more like 80's+ desired...). Convenient? No such thing as coincidence? Dunno. - just putting it out there for discussion...
There will a gap on oil but 3 to 5 dollor max at start of opening. Then after that lets see what will happen in the market plus what will be the reaction from SA ..
Quoting nbfx
{quote} Exactly but there is enough spare capacity in the world to compensate, but not immediately. It does take a little time. Also, Drone strikes this time are a surprise, but the cat's out now... Something this thread isn't talking about is the need to Aramco's IPO to be supported by a solid price on crude (and somewhere in the 60's isn't enough.. more like 80's+ desired...). Convenient? No such thing as coincidence? Dunno. - just putting it out there for discussion...
That's the precise point .. for those really analyse will understand this part .. how convenient is that for aramco .. btw is this me think like this ... aramco rhymes with haram meaning bad ....
Quoting asgcorp
And Saudi's officials said all be back on monday... sell the spikes - dumbest comment I've seen in here in a while. You obviously have no idea how oil refining works. You can't have it all back online on Monday, beyond ridic. Massive explosions and fire, this facility will take weeks to repair.
You are the dumb guy here, sorry to tell you that
I made money selling that spike.....while you didn't.

And please stop trading GU, its totally not for you

Thanks and good luck in the future
Kuroro, how much did you make? 10 dollars? I think it's about time you got a full time job at Taco Bell or McDonalds, they are hiring now. Low wage, yes, but this suits you better, plus you'd be able to get some food for free. How does that sound, you like that?
Quoting asgcorp
Kuroro, how much did you make? 10 dollars? I think it's about time you got a full time job at Taco Bell or McDonalds, they are hiring now. Low wage, yes, but this suits you better, plus you'd be able to get some food for free. How does that sound, you like that?
10 dollars? lol probably the money you make....when you don't make bad GU calls, or worst...oil calls

ALL your calls have been sooo wrong

Poor dude. I pity you
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  • Story Stats
  • Posted: Sep 14, 2019 2:57pm
  • Submitted by:
     Newsstand
    Category: Fundamental Analysis
    Comments: 35  /  Views: 13,419