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WTI Crude Oil Trading

  • #7,661
  • Apr 22, 2020 4:46am Apr 22, 2020 4:46am
Quoting atom3
Instead of paying to sell oil, why sellers don't just throw the oil away or burn it? Is there such option?
ye, in the middle of the ocean
  • #7,662
  • Apr 22, 2020 4:46am Apr 22, 2020 4:46am
Quoting kuroro001
{quote} Maybe there is a long wti/short brent spread strategy to play I haven't checked it yet, i'll have a look
honestly, i dont think there is any logic
  • #7,663
  • Apr 22, 2020 5:17am Apr 22, 2020 5:17am
Oil Tankers Are Surrounding California With Nowhere to Unload
don't predict direction, but dance with flow of water
  • #7,664
  • Apr 22, 2020 5:25am Apr 22, 2020 5:25am
Quoting tonny47
{quote} honestly, i dont think there is any logic
Its something no one saw

It happens once in a century really....once it happens, you are free
COT: The precious data ignored
  • #7,665
  • Apr 22, 2020 5:25am Apr 22, 2020 5:25am
Funny thoughts you have ppl About OIL, Tankers and Ocean Reminds me of this clip...

Inserted Video


When economy starts to kick in again... we might see fast recovery... I mean if there is one industry that has nothing to worry about...

Also, I don't understand this BAIL OUT thing... Shouldn't US be happy to import cheap OIL? I mean can't they pump it somewhere, worst case... CHEAP OIL used to be very good stimulus for the economy... I mean isn't that what should it be all about in the free market, as US claims to follow, to do what you can best/cheap and outsource/import the rest? Why are they wasting money on subsidising OIL or whatever if they can import it cheaply? And it is not RIG workers do not have some safety-net right? OIL won't go away, so no hurry.... I am sure they can store it somewhere (if they really can not adjust the aggressive rigging (funny) to the demand) .
Can you afford to take that chance?
  • #7,666
  • Apr 22, 2020 5:36am Apr 22, 2020 5:36am
Quoting auricforecas
Funny thoughts you have ppl About OIL, Tankers and Ocean Reminds me of this clip... https://www.youtube.com/watch?v=gZdlAotNSZE When economy starts to kick in again... we might see fast recovery... I mean if there is one industry that has nothing to worry about... Also, I don't understand this BAIL OUT thing... Shouldn't US be happy to import cheap OIL? I mean can't they pump it somewhere, worst case... CHEAP OIL used to be very good stimulus for the economy... I mean isn't that what should it be all about in the free market,...
plot twist: they were just trying to dump oil in the ocean to create extra capacity and sink the tanker to make insurance claim but superman messed it all up

on serious note, oil market is not a free market (think OPEC setting prices for decades). US doesn't want to be dependent on other countries setting prices plus it creates jobs
  • #7,667
  • Apr 22, 2020 5:40am Apr 22, 2020 5:40am
Quoting tonny47
{quote} plot twist: they were just trying to dump oil in the ocean to create extra capacity and sink the tanker to make insurance claim but superman messed it all up on serious note, oil market is not a free market (think OPEC setting prices for decades). US doesn't want to be dependent on other countries setting prices plus it creates jobs
Yes, I am aware of that but at the current prices... the PRICE difference alone can provide many more jobs in a much more needed sector maybe? They could also still maintain that independence in parallel... But I am almost sure that BAILING is unnecessary... Isn't OIL industry, specially on rigs project-based anyway and I think it is not min wage? So workers are used to thins kind of work, seasons etc? Basically at current prices they are heavy subsidising every barrel... It costs $20+/barrel to make it in US right? At least shale.

Maybe some industry experts can explain but it seems a political game and not an economic one, if we can separate the two at least...
Can you afford to take that chance?
  • #7,668
  • Apr 22, 2020 5:49am Apr 22, 2020 5:49am
Crazy spread

Attached Image
COT: The precious data ignored
  • #7,669
  • Apr 22, 2020 6:09am Apr 22, 2020 6:09am
Oil upside interest

Attached Image (click to enlarge)
Click to Enlarge Name: oil2.PNG Size: 21 KB
COT: The precious data ignored
  • #7,670
  • Apr 22, 2020 7:20am Apr 22, 2020 7:20am
Attached Image (click to enlarge)
Click to Enlarge Name: oil15.png Size: 30 KB
yes yes yes
  • #7,671
  • Apr 22, 2020 7:31am Apr 22, 2020 7:31am
Inserted Video
don't predict direction, but dance with flow of water
  • #7,672
  • Apr 22, 2020 8:04am Apr 22, 2020 8:04am
Nice short squeeze this morning, wondering if it will continue now
  • #7,673
  • Apr 22, 2020 8:10am Apr 22, 2020 8:10am
Break even point for oil companies on USA soil.

Eagle Ford $42.30

Bakken $41.40

Permian Basin $38.70
Patience, let the trade come to you.
  • #7,674
  • Apr 22, 2020 8:22am Apr 22, 2020 8:22am
Quoting PokerChip
Break even point for oil companies on USA soil. Eagle Ford $42.30 Bakken $41.40 Permian Basin $38.70
Imagine venezuela, nigeria, algeria, and so on.....its higher
COT: The precious data ignored
  • #7,675
  • Apr 22, 2020 8:26am Apr 22, 2020 8:26am
Attached Image (click to enlarge)
Click to Enlarge Name: oil15.png Size: 32 KB
yes yes yes
  • #7,676
  • Apr 22, 2020 8:31am Apr 22, 2020 8:31am
How Iran's doing...

Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 39 KB

Source : IMF
COT: The precious data ignored
  • #7,677
  • Apr 22, 2020 8:40am Apr 22, 2020 8:40am
Quoting kuroro001
Oil upside interest {image}
First level reached
COT: The precious data ignored
  • #7,678
  • Apr 22, 2020 8:43am Apr 22, 2020 8:43am
Quoting kuroro001
How Iran's doing... {image} Source : IMF
Need help:
Algeria: 2020 157,20 What does this 157,2 mean?
  • #7,679
  • Apr 22, 2020 8:46am Apr 22, 2020 8:46am
Quoting kuroro001
{quote} Imagine venezuela, nigeria, algeria, and so on.....its higher
If the price of oil doesn't move higher, changes will happen quickly in a lot of unforgiving countries.
Patience, let the trade come to you.
  • #7,680
  • Apr 22, 2020 8:50am Apr 22, 2020 8:50am
Quoting kuroro001
How Iran's doing... {image} Source : IMF
Iran, wow.
Patience, let the trade come to you.
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