5th annual IHS CERAWeek conference comes just as the world's largest oil producers — Saudi Arabia and Russia — are talking about ways to support oil prices through a production freeze. While a cap on output will not reduce the world's oil glut, the idea has certainly helped lift crude prices off their lows. And in Houston on Monday -energy ministers from around the world will talk up oil - thus pushing Uwti possibly over $2 a share.
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Next week looks like a market sell off if not from falling oil then major friction between Great Britain and Europe. If not from North Korea to South Korea then to China missile tipped islands in the China Sea. If not from Japan negative rate then to China's crumbling economy. Wish Me Luck.
and unfortunately for (longs) here - $1.40 a share could be offered for breakfast tomorrow. Always remember when Uwti moves down, it moves down fast. Especially with today's inventory oil report that said, "March is over saturation point" as Iran and Iraq pump day and night.
and world market go green on this (BOGUS) news. Give me a break. So Saudi Arabia, Russia, Venezula say they will freeze their Oil Production limits AT ALL TIME HIGHS and markets think that is good for OIL?
Then Iran says "You Do Dat but we don't play that (FREEZE GAME) Suckers", and world markets think that is good. What the "F" am I missing here. Everyone is still pumping like crazy with worldwide storage facilities inches from over flowing and now everyone thinks oil is going HIGHER. Yea right and Trump will shave off his crossover and Hillary will take a lie detector test over illegal emails. Oil should be crashing - not going higher simply because everyone is still pumping oil flat out and you know the Russians will cheat on any agreement this week, next week, next month, next year.
This is all FOOLS GOLD but the markets Suck it UP.
and with that news Oil falls as talks between Saudi Arabia and Russia go no where. And as oil drops gold jumps knowing that "safe haven investments" are the play for 2016.
Look for a size able oil sell off this week if not Tuesday afternoon. Talks between Russia and Saudi Arabia going no where as oil heads back to the mid $20's.
No - No China news is actually worse then Greece because China tries to hide bad numbers under the table. Unfortunately the game is up now and as China economy fall into 2016, 2017 oil goes South and Gold JUMPS. Fed said they would hold off rate hike if China's economy worsened. Well now we know it how bad it is - and its "SCARY" bad.
Have to go to "safe haven" plays like GLD with China economy in full collapse and the Fed about to push off higher rate hikes until end of year. When you see news like this below - you know Gold will ramp HIGHER.
China’s trade contracted significantly more than economists had expected in January, as the country’s economy continued to suffer from weak global demand and a slowdown at home. Exports fell 11.2 per cent year-on-year in dollar terms, compared with forecasts for a decrease of 3.6 per cent, while imports slid 18.8 per cent, against expectations of a 1.8 per cent fall, according to government data released on Monday.
China’s trade contracted significantly more than economists had expected in January, as the country’s economy continued to suffer from weak global demand and a slowdown at home.Exports fell 11.2 per cent year-on-year in dollar terms, compared with forecasts for a decrease of 3.6 per cent, while imports slid 18.8 per cent, against expectations of a 1.8 per cent fall, according to government data released on Monday.
So the second largest economy in the world is now in a free fall as Iran ramp up oil exports to flood world markets with cheap oil. Talk about the "Perfect Storm" for oil to collapse.
There were a lot of investors that went long Uwti on Friday. Some got burned buying in at the "high" level only to see Uwti fall back to $1.45. Watch it fall further Tuesday and rest of next week as rumored cut backs go up in smoke and reality kicks in. World is awash in oil and more is coming as Iran pumps to the Max while U.S. refineries shut down for Winter/early Spring maintenance. Oil heading to sub-$20 but longs here admit to that.
So you know have the "green" light to short gold and go long oil on Opec news.
The Federal Reserve is unlikely to reverse its plan to raise interest rates further this year, but tighter credit markets, volatile financial markets, and uncertainty over Chinese economic growth have raised risks to the U.S. economy, Fed Chair Janet Yellen told U.S. lawmakers on Wednesday.
and everyone is happy. Oil jumps as the big boys get down to business and talk production cuts to save their faltering economies. Uwti over $1.70 today but you have to buy NOW - to enjoy the ride up.
and deep down we all know Yellen will hold off any rate hike this summer - so for a few days the BULL IS BACK - BIG TIME.