1. WTIC looks like back to $49ish -see Walker's charts/ USO to $18
2. Look at Apr17 call activity 67.50 strike
3. Oil been up on Thurs, Fri ahead of weekends
4. END OF QUARTER tape-painting soon
5. COP won't cut dividend
6. It's all probabilities. GL
The #$%$ frackers don't give a rat's #$%$ about the nation's aquifers and OUR drinking water. They've already illegally destroyed some here in California. NY has the common sense to BAN it. More will as chemical injections of carcinogens back into the earth find their way to a well near you. The issue of water supply is a whole other nightmare. Keep drinking the industry's koolaid, like all the other corruption in the USA.
At the moment the amount of oversupply is estimated at a whopping 1 to 1.5 million barrels per day. Furthermore, there is a significant build in inventories in the recent months and a huge amount of oil is stored on floating tankers and other vessels as on-shore storage tanks for oil products become either full or have no more unreserved space available. When floating storage also reaches its limits, there may be an even higher downward pressure on prices as oil that cannot be stored will flood the markets.
Just looked, THAT'S A P/E OF 28 (TWENTY EIGHT) ! Q1 2015 est is .74 SEVENTY FOUR CENTS down from $1.81 This is a trainwreck
Dollar bounced but so did oil. Greece should dictate Dollar resumes uptrend, and oil falls. Greek bank runs, and even capital controls in Swiss all "should" mean $USD higher, plus refinery strike means BACKUP of crude to Cushing and another big inventory, as rig count not down that much and supply still climbing.
Oil 65ish in 2017 means no dividend cut. I would'nt bet against that, this price is an accumulate, imo, the 62.50 magnet smacks of options players control on lower than ave volume today,
The secondary convertible says STAY AWAY! fyi, COP has Tier1 shale operations, they are the most cost effective in the industry, article recently, search it.