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WTI Crude Oil Trading

  • #7,301
  • Edited 4:09pm Apr 15, 2020 3:58pm | Edited 4:09pm
Quoting tonny47
{quote} the graph only shows operating expenditure. with offshore, drilling equipment cost is very high (which is capital expenditure not shown in your graph) and could amount to as much as 90% of an oil producer's total investment.
I concur, total production is $20USD+ and also they are not in the market for survive, but to thrive

  1. 2016 data, for ballpark/ratios from WSJ.. http://graphics.wsj.com/oil-barrel-breakdown/
  2. 2020 data https://knoema.com/vyronoe/cost-of-o...ion-by-country
  3. Wiki data https://en.wikipedia.org/wiki/Price_..._of_production

As you see some countries are definitely not happy with this, specially since some were thinking about being self-efficient and be profitable at the same time
While other countries can play this standoff as they like, because they have reserves, power and their people might be much more used to lowering the standards...
Make your own conclusions... Also, for some downgrading from Benz to BMW might be a sign of trouble and they would do anything to keep the previous style... While others do not mind eat every second day without much panic. Just my thoughts and food for your thoughts And yes, that also affects SUPPLY, RESERVERS etc...

For DEMAND.. I concur with some previous that we might see (much) improvement in MAY when things might improve (much)... But let's see what happens... Will be focusing on smaller timeframes in the meantime and will wait for longer picture to present itself... might be within a week!

Can you afford to take that chance?
  • #7,302
  • Apr 15, 2020 4:07pm Apr 15, 2020 4:07pm
Looks like WTI is on a very low downward slope losing $0.94 on Wednesday and $1.00 today. $20 is a major support level.
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  • #7,303
  • Apr 15, 2020 4:14pm Apr 15, 2020 4:14pm
What a dead useless day. Hope it’s not like this the rest of the week. If it’s going to break $20 then be done with it already or else give us a nice bounce
  • #7,304
  • Apr 15, 2020 4:37pm Apr 15, 2020 4:37pm
Quoting Hutch
{quote} I like the picture you posted stating "Not sure where oil is going" looks like that the answer is a big DOWN Looks at the change since yesterday's close! {image}
Wow. It's tough to believe that it'll break that $20 handle. But it's looking like the more likely case.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #7,305
  • Apr 15, 2020 7:11pm Apr 15, 2020 7:11pm
I'd look at crude to have some upside momentum if it can break $21. It's opening strong in Asia so far. Day is still very early though.
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We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #7,306
  • Apr 15, 2020 8:03pm Apr 15, 2020 8:03pm
Quoting EventsTrader
I'd look at crude to have some upside momentum if it can break $21. It's opening strong in Asia so far. Day is still very early though. {image}
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Make it Green
  • #7,307
  • Apr 16, 2020 1:13am Apr 16, 2020 1:13am
The gap between may-june contract get closer, but price look like so hard to brake at $20.. is there any negative news will realese which can make oil down again ?
  • #7,308
  • Apr 16, 2020 1:31am Apr 16, 2020 1:31am
Attached Image (click to enlarge)
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yes yes yes
  • #7,309
  • Apr 16, 2020 2:54am Apr 16, 2020 2:54am
Any thoughts on tariffs being imposed on incoming Saudi oil, or too big a hit for the refineries?

Otherwise looks like a dead cat bounce off $20 at the moment
  • #7,310
  • Apr 16, 2020 3:43am Apr 16, 2020 3:43am
#WTI / H1
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  • #7,311
  • Apr 16, 2020 3:49am Apr 16, 2020 3:49am
Oil looking good for a BUY today. 28$ targets.
  • #7,312
  • Apr 16, 2020 4:25am Apr 16, 2020 4:25am
Ok the hell with it, let's test-dip the waters... BUY WTI at 25.355
Can you afford to take that chance?
  • #7,313
  • Apr 16, 2020 4:30am Apr 16, 2020 4:30am
bought 2 CL DEC 2020 contracts at 34$, Target 45 in Dec 2020
  • #7,314
  • Apr 16, 2020 4:31am Apr 16, 2020 4:31am
Quoting agazzi86
The gap between may-june contract get closer, but price look like so hard to brake at $20.. is there any negative news will realese which can make oil down again ?

MAY average = 20,5
JUNE average = 26,5

How did u come about its get closer???
  • #7,315
  • Apr 16, 2020 4:45am Apr 16, 2020 4:45am
Quoting zamans98
{quote} MAY average = 20,5 JUNE average = 26,5 How did u come about its get closer???
2 days ago $7,4.. now $6,5 gap get closer right ?
  • #7,316
  • Apr 16, 2020 5:14am Apr 16, 2020 5:14am
Quoting auricforecas
Ok the hell with it, let's test-dip the waters... BUY WTI at 25.355
Exited at 25.610, TakeProfit (TP). Not bad, for a leverage 50:1.. that is 50%+/trade... impressed. Market sure does provide good opportunities even if the trend is uncertain atm...
Can you afford to take that chance?
  • #7,317
  • Apr 16, 2020 7:01am Apr 16, 2020 7:01am
Wow shaping up to be another dead day. Liquidity seems to have gone.
  • #7,318
  • Apr 16, 2020 7:46am Apr 16, 2020 7:46am
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persistence and determination alone are omnipotent
  • #7,319
  • Apr 16, 2020 9:50am Apr 16, 2020 9:50am
Quoting auricforecas
{quote} Exited at 25.610, TakeProfit (TP). Not bad, for a leverage 50:1.. that is 50%+/trade... impressed. Market sure does provide good opportunities even if the trend is uncertain atm...
Holy, now I see in retrospect that I exited just after it went to s... And I was thinking in time should I wait a little but then decided to stick with the plan... BTW I used to trade even smaller price differences (like .12 only) but then reduced the leverage, increased prices... Seems double that (.24) seem to be a good deal... at least there is more clear direction about the possible trend...
Can you afford to take that chance?
  • #7,320
  • Apr 16, 2020 10:14am Apr 16, 2020 10:14am
support holding for the moment. its struggling so much to break, it feels like a big bounce is coming
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