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Jun 16, 2022 | 08:08
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WTI crude oil about $8 per barrel this week. Wholesale gas prices down about 4 cents/litre today. Natural gas futures have plunged more than 20% over past week. Malaysian palm oil prices off 8 percent this week, Soyoil now off 6 cents/lb over the past ten (10) days.
Energy traders uneasy over sudden economic slowdown . . . .
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Jun 16, 2022 | 08:17
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 Originally Posted by errolanderson
WTI crude oil about $8 per barrel this week. Wholesale gas prices down about 4 cents/litre today. Natural gas futures have plunged more than 20% over past week. Malaysian palm oil prices off 8 percent this week, Soyoil now off 6 cents/lb over the past ten (10) days.
Energy traders uneasy over sudden economic slowdown . . . .
They should be uneasy , the average middle class working family is running out of disposable income extremely fast due to run away inflation they won’t admit already happened
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Jun 16, 2022 | 09:57
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Brandon also released another significant part of their strategic reserve.
Prices took a dip for a few days last time he did.
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Jun 16, 2022 | 10:22
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Question: who's holding their energy stocks into this downturn?
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Jun 16, 2022 | 12:05
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I am so far, oil is still over $100 and oil companies are making crazy amounts of money.
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Jun 16, 2022 | 15:36
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Originally Posted by Sodbuster
I am so far, oil is still over $100 and oil companies are making crazy amounts of money.
Fair enough. As am I... But,
does the selling start before the peak?
Is this the peak?
Is the consumer prepared to suffer yet further?
Does government inflict yet more pain upon this industry in the short term?
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Jun 16, 2022 | 16:04
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With all the Government created headwinds including a Greenpeace activist the Fosil Fuel sector seems to be able to grow and offer great employment opportunities.
Bloomberg has a bear market based ETF that is not getting much interest yet.
Might be worth watching if pump prices start to tank.
Not keen on Bloomberg as they are leading the ESG movement.
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Jun 16, 2022 | 17:13
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I think we hit new highs before the $hit hits the fan, depends on how far this recession takes us but don’t see a plunge before September.
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Jun 20, 2022 | 17:32
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Bloomberg bear market oil ETF up 18%+ from its YTD low on June 10. Up 8.8% today. Symbol SCO .
DYOD. High risk and not a recommendation but may be an indicator of market sentiment.
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Jun 22, 2022 | 02:51
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Energy fallout gaining momentum on slowing global growth. Truly amazed economic narrative is still about controlling inflation. That horse has already long left-the-corral. . . . .
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Nov 18, 2022 | 08:08
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Fuel prices coming down . . .
WTI oil again breaking $80 per barrel once again. Weekly chart support seen at $75 pert barrel . . . major support $65 per barrel. Demand destruction key factor pressuring oil. Biodiesel and ethanol margins also pressured and now impacting grain markets . . . .
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Nov 18, 2022 | 14:05
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10 12 months back thought they have got this all wrong oil will hit $150.
But ive got that 100% incorrect openly admit it.
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Nov 21, 2022 | 10:10
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Oil washout. Dec WTI oil now approaching next key support @ $75 per barrel. Gasoline / diesel / dropping . . . .
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Nov 21, 2022 | 10:37
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Originally Posted by Landdownunder
10 12 months back thought they have got this all wrong oil will hit $150.
But ive got that 100% incorrect openly admit it.
You're probably not wrong. In fact this price action it's exactly what will sooner than later drive the price to those higher levels. There is still a fundamental shortage of investment and, let alone upcoming supply, relative to the inelastic portion of demand.
The lack of investment has been going on for so many years, that this short blip of improved prices did not come close to repairing the damage. At these price levels, we are back to discouraging investment while simultaneously encouraging consumption, when exactly the opposite needs to be occurring to bring long-term supply and demand back into balance.
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Nov 21, 2022 | 12:29
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Oil up now… Saudis deny oil production increase…
Cheers
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Nov 21, 2022 | 13:26
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I don’t think you’re wrong yet Landdownunder you just need a little bit time. With Putin and company threatening Europe there will be a oil premium until Russia’s threats are put to rest. I’m still heavily invested in oil and gas stocks, my hedge against petroleum products. Not planning on trimming my oil stocks until this conflict is over.
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Nov 22, 2022 | 05:06
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OPEC-led Saudi Arabia can’t be pleased with their lack-of-ability to manipulate global oil prices with production cuts. Let the cartel infighting begin . . . .
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Nov 22, 2022 | 09:23
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Won’t oil be on the higher side until the US get their oil reserves replenished?
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Nov 24, 2022 | 15:22
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Originally Posted by TASFarms
Won’t oil be on the higher side until the US get their oil reserves replenished?
U.S. inventories appear recovering on falling oil demand as recession deepens. If $75 WTI oil breaks, next stop could be mid $60 per barrel range (IMO). And if OPEC starts infighting on production quotes, oil prices could go a whole lot lower yet. Resistance @ $85 per barrel on bounce?
U.S. bank analyst estimates, pretty much garbage (in my view) . . . .
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Nov 24, 2022 | 17:25
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Originally Posted by errolanderson
U.S. inventories appear recovering on falling oil demand as recession deepens. If $75 WTI oil breaks, next stop could be mid $60 per barrel range (IMO). And if OPEC starts infighting on production quotes, oil prices could go a whole lot lower yet. Resistance @ $85 per barrel on bounce?
U.S. bank analyst estimates, pretty much garbage (in my view) . . . .
My target has been 72-74 since the end of September.
Will reassess if that level is reached.
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Nov 27, 2022 | 10:22
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China’s COVID mess is not good for commodities.
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Nov 27, 2022 | 11:17
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Originally Posted by errolanderson
China’s COVID mess is not good for commodities.
Protests are erupting all over China , they have had enough
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Nov 27, 2022 | 13:32
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Originally Posted by errolanderson
China’s COVID mess is not good for commodities.
Short-term. But what if they succeed? What does that do for demand long-term? There are a lot of rumors floating around that part of the reason for the lockdowns in China is that the cupboards are bare, so this is a way to stifle demand. What if that turns out to be true and gets revealed throughout this process?
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Nov 27, 2022 | 21:51
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China / Hong Kong stock markets plunging. Japan / Korea markets under heavy selling. WTI oil breaks $75 per barrel . . . China protests.
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Jan 30, 2023 | 22:28
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Crude oil appears rolling over. Gasoline and diesel under pressure. Europe in recession, demand dropping.
Energy bulls holding on by-a-thread . . . .
Last edited by errolanderson; Jan 30, 2023 at 22:41.
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Jan 31, 2023 | 08:24
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Why the rebound in lumber futures, new builds and renovations stalled you would think.
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Jan 31, 2023 | 11:37
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OPEC is 1 million barrels a day lower on production then they are allowed. That’s got to be keeping oil prices up
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Jan 31, 2023 | 11:51
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Originally Posted by rumrocks
Why the rebound in lumber futures, new builds and renovations stalled you would think.
A confluence of technical indicators brought in buyers.
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Jan 31, 2023 | 13:28
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Originally Posted by rumrocks
Why the rebound in lumber futures, new builds and renovations stalled you would think.
A lot mills shelved production. A lot of production
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Feb 1, 2023 | 07:01
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Originally Posted by rumrocks
Why the rebound in lumber futures, new builds and renovations stalled you would think.
They say that the lumber market is typically one year forward looking. The market is expecting housing starts and the economy to be on the way up within a year.
Apparently has a good track record.
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