You are on an island, would you want
a. 53 dollars
b. 53 dollars worth of gold
c. a barrel of oil, yes XOM is sitting on the most important stuff on the planet, now or later it will be worth more...
The trend is not your friend, when things seem so easy and clear, the big boys will take your money....
wow, if u r still short, u got balls, when a stock has traded down 9 out of 11 days, the pop will be huge.
the phone will be ringing next week, I need advice, should I hold my short position, I listened to people on a message board and I am getting creamed. Mr. Jones, hold that position until 100 then throw in the towel.
Man, I will have to put on diapers, may shart in my pants........
This pattern is characterized by a large white body engulfing a preceding smaller black body, which appears during a downtrend. The white body does not necessarily engulf the shadows of the black body but totally engulfs the body itself. This is an important bottom reversal signal.
just think what will happen when the small players get wiped out and oil prices start to rise. exxon will have so much cash they will increase the div. just to crush the shorts
A Greek-operated oil tanker was bombed near a port in eastern Libya, killing two sailors and underscoring a growing threat to shipments from the country with Africa’s biggest crude reserves where violence is escalating.
Aramco also raised its February price for its Arab Light grade for customers for Asia - the largest of its major markets, accounting for more than half of its exported crude - by 60 cents a barrel versus January
SINGAPORE, Sept 5 (Reuters) - Trading companies operating in Asia are seeking to charter supertankers to temporarily store crude, shipping and trade sources said on Thursday, hoping for highher prices with the coming Northern Hemisphere winter.
A state Chinese trading company has already made a booking, while a second trader, reluctant to sell its cargoes after spot differentials hit multi-year lows, is in talks to charter a vessel. Another four have been looking for ships, the sources said.
Oil benchmarks in Europe and the Middle East are also in their strongest contango market structure since 2010, an indication that prices could rise in the last quarter of the year to help cover storage costs and earn a profit.
Brent futures flipped into steep contango - when future prices are higher than spot - last month, encouraging European trading firms to store North Sea and African oil onboard suezmaxes in Africa.
"Freight is cheap and the oil price is relatively low," a shipping source in Asia said. "We're going into winter so demand is very likely to get stronger."