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WTI Crude Oil Trading

  • #7,681
  • Apr 22, 2020 8:50am Apr 22, 2020 8:50am
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yes yes yes
  • #7,682
  • Apr 22, 2020 8:51am Apr 22, 2020 8:51am
Quoting renkotop
{quote} Need help: Algeria: 2020 157,20 What does this 157,2 mean?
They need an oil price at 157,2 to have a 2020 fiscal balance at zero
COT: The precious data ignored
  • #7,683
  • Apr 22, 2020 8:54am Apr 22, 2020 8:54am
Quoting kuroro001
{quote} They need an oil price at 157,2 to have a 2020 fiscal balance at zero
So they make currently extrem losses and get broke.
  • #7,684
  • Apr 22, 2020 9:02am Apr 22, 2020 9:02am
Quoting renkotop
{quote} So they make currently extrem losses and get broke.
If price don't go back to 50/60 dollars/bbl ..... things will get very ugly for the oil industry.
COT: The precious data ignored
  • #7,685
  • Apr 22, 2020 9:15am Apr 22, 2020 9:15am
Quoting kuroro001
{quote} If price don't go back to 50/60 dollars/bbl ..... things will get very ugly for the oil industry.
Right, and this is NOT what Trump wants.
  • #7,686
  • Apr 22, 2020 9:18am Apr 22, 2020 9:18am
Quoting renkotop
{quote} Right, and this is NOT what Trump wants.
well obviously he doesnt want it but he cant do anything about it...
  • #7,687
  • Apr 22, 2020 11:35am Apr 22, 2020 11:35am
No negative CFD's from Oanda :

We can confirm that in the scenario where the underlying futures contract price that we are pricing one of our CFDs from turns negative, OANDA`s price will not drop below the minimum price increment for that particular CFD product (for example $0.01 for WTICO).
As OANDA's price approaches this minimum level, trading may be halted to prevent any trading activity, or set to reduce-only to prevent any new positions from being opened.

- I'm still short...
  • #7,688
  • Apr 22, 2020 11:46am Apr 22, 2020 11:46am
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yes yes yes
  • #7,689
  • Apr 22, 2020 12:00pm Apr 22, 2020 12:00pm
switched to 3 contracts today.
preferred the short side.
+1500$ after commission
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making money in JimB2468 trading room
  • #7,690
  • Apr 22, 2020 12:37pm Apr 22, 2020 12:37pm
Quoting Wightoil
No negative CFD's from Oanda : We can confirm that in the scenario where the underlying futures contract price that we are pricing one of our CFDs from turns negative, OANDA`s price will not drop below the minimum price increment for that particular CFD product (for example $0.01 for WTICO). As OANDA's price approaches this minimum level, trading may be halted to prevent any trading activity, or set to reduce-only to prevent any new positions from being opened. - I'm still short...
If Oanda has a price of 0,01 dollars....i'll load some cash there and buy all oil CFD
COT: The precious data ignored
  • #7,691
  • Apr 22, 2020 1:20pm Apr 22, 2020 1:20pm
USO is halted again. Price down 10% even as WTI is up.

Trading resumed
  • #7,692
  • Apr 22, 2020 1:44pm Apr 22, 2020 1:44pm
lovely sideways NY session. bears and bulls playing ping pong
  • #7,693
  • Apr 22, 2020 4:27pm Apr 22, 2020 4:27pm
Woohoo WTI is up $0.68 today or 5% after going down 25% yesterday. This is great news. Lets all go out celebrate by dancing in the street
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  • #7,694
  • Apr 22, 2020 8:58pm Apr 22, 2020 8:58pm
Two things to consider for oil prices in the near term. Will US-Iran tensions escalate. The second, and probably more importantly, what's going to happen with the 50M barrels of crude oil that Saudi Arabia is sending to the US? Last I've read is that it might get rerouted. If not, it's tough to make a case against oil prices in the US going negative again. I suspect it'll get rerouted.

On another note, seeing some analyst out there talking about a possible -$100 for the June contract. I'm not saying I agree but just that it's a discussion is pretty unbelievable.
We must learn who is gold, and who is gold plated
EventsTrader Live All Time Return: 54.4%
  • #7,695
  • Apr 23, 2020 12:09am Apr 23, 2020 12:09am
I think we already found oil bottom for this month (1.27% fib extension of March candlestick). I think we have a cup and handle structure in place as well. Just a technical correction in the bigger picture
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  • #7,696
  • Apr 23, 2020 12:16am Apr 23, 2020 12:16am
Our Forwards are priced according to Futures traded on NYMEX, however each Cash/Spot pricing will be applied with a Fair Value from the Front month Futures contract, which accounts for the cost of carry such as storage, transportation etc. just to name a few. In this case for WTI Cash, we're pricing it from Dec Futures. Hope that clarifies.


what it means?
  • #7,697
  • Apr 23, 2020 12:37am Apr 23, 2020 12:37am
Quoting PokerChip
Break even point for oil companies on USA soil. Eagle Ford $42.30 Bakken $41.40 Permian Basin $38.70
they already have support from the FED
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #7,698
  • Apr 23, 2020 1:24am Apr 23, 2020 1:24am
Found a new interesting stat that we are not taking into consideration

seasonality for gas prices.
1st Q of a year is the one with the most increase in gas prices since 2005.
top is in near June and goes down to December.
Rule No.1: Never lose money. Rule No.2: Market is always right !
S&P 500 WTI/USD
  • #7,699
  • Apr 23, 2020 2:31am Apr 23, 2020 2:31am
Quoting ProfitsOnly
Our Forwards are priced according to Futures traded on NYMEX, however each Cash/Spot pricing will be applied with a Fair Value from the Front month Futures contract, which accounts for the cost of carry such as storage, transportation etc. just to name a few. In this case for WTI Cash, we're pricing it from Dec Futures. Hope that clarifies. what it means?
see https://www.energyexch.com/showthrea...7#post12889937
Your broker switched quotation to Dec futures. You should see some $30. Others (Jun futures quotation) see $15. I (Jul futures - my broker just switched yesterday/today) see $22. The difference between future series is called contango and we have no possibility to exploit it, when trading CFD.
So graphs will look completely different and price actions also will be different.
  • #7,700
  • Apr 23, 2020 2:37am Apr 23, 2020 2:37am
Quoting DMA Trader
Found a new interesting stat that we are not taking into consideration seasonality for gas prices. 1st Q of a year is the one with the most increase in gas prices since 2005. top is in near June and goes down to December.
We have been talking about seasonality in the past months, that is why it was even more puzzling... It seems the corona was/is the main factor, no other reason.

There were now quite radical news (yesterday)... about bailing out + shooting "out of the water" etc... So if the price doesn't start to climb now, I might switch to other ENERGY market to trade.... Because yes, seasonality + maybe some more positive news about corona (if it will stick) + cuts + bailing/shooting etc etc... should indicate UP-trend (at last).. or I might just choose not to trade aka preserving past profits vs gambling it away/back...
Can you afford to take that chance?
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