WTI Crude Oil Trading

Quoting mario83

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{quote} wow wow wow, that's huge! I read only heading and skiped the article before but just read it now. https://www.bloombergquint.com/busin...u-s-oil-market “If all the Saudi tankers unload, the crude they carry will offset during May almost all of the production reductions from March levels, effectively maintaining the current high storage filling rates,” Paola Rodriguez-Masiu, a senior oil market analyst at Rystad Energy, said in a note. Very Large Crude Carries, or VLCCs, heading...

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Quoting tonny47

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I don't get how could price go up this high with all the oil in tankers. That's nothing new. Plus now US shale will start pumping oil at these prices. I get it, life is getting back to normal but still...

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Quoting Kwame Freder

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{quote} oil prices are determined mostly by speculators nowadays

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Quoting mario83

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Are we going to face doomsday today agan? So far no reactions in price for expiring june contract.Lets see how it plays out, so far no signs of down turn. Id be happy to see 29USD to add new longs. I'm out of the market since yesterday and waiting for good opportunity to re-enter {image}

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Quoting kuroro001

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{quote} I"m still expecting higher prices, if dump...its good to add to longs

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Quoting mario83

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{quote} so its seems like there is no problem with storage anymore and demand picked up quickly to rebalance the market? hell no... not too fast? I was expecting down move for end of contract. I'm disappointed so far Couple more hours but seems like there will be no bigger correction move, at least not now. It puts in question whether enter longs or wait for that correction movement. Lets see what happens

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Quoting kuroro001

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{quote} I really don't know how the current storage, there is a way to know if its full or not ? I'm just looking at the current price of oil, and check how's the countries are doing with a price that low. I would say 90/95% of the countries can't make a single dollar of profits with a barel below 30 dollars. A lot have break even above 50 dollars (from what i have read months ago), its something to take into account A failing company, most wouldn't care about it, but a whole country? that's trouble

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Quoting mario83

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{quote} yes, that's totally true. 50usd was the minimum price of oil to rebalance the budget of most of the countries which rely on oil. Im fully bullish, i was just expecting move to south with end of June contract thats all.

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Quoting kuroro001

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{quote} Very bullish too, but at some point we'd need a retrace down to enter We bounced off my ultimate line of resistance (33.1x) before freeing the bulls for a potential move towards 48/50/51.85/53.6 Lets see if we can cross it for good Time will tell

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Quoting patient pip

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was a shorter day for me. Jim had business to do. Sometimes, being a few ticks late in a trade can make difference in management . I prefer to go BE quickly. If I am late, price often comes to test the entry and thats a heat that some are fine with. I personally am skittish. + 1500 after commission {image}

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Quoting auricforecas

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Well I was about to JOIN the UP-RIDE again when it decided to "correct" itself a bit So awaiting new RISE.. to join the PARTY.

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Quoting kuroro001

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{quote} I haven't understand a single post of yours Can you explain your chart? or anything ? Cheers

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