(Reuters) - Brent crude oil prices shot up nearly 6 percent on Thursday after Saudi Arabia and its Gulf Arab allies began a military operation in Yemen, although Asian importers said they were not immediately worried about supply disruptions.
The strike against Houthi rebels, who have driven the president from Yemen's capital Sanaa, could stoke concerns about the security of oil shipments from the Middle East.
Oil prices jumped as traders and importers said they were worried the Saudi attack was a sign that fighting in the oil-rich Middle East was spreading and out of control.
Brent crude oil futures LCOc1 rose as high as $59.71 a barrel, up almost 6 percent since their last settlement, before dipping back to $57.80 a barrel at 0402 GMT, still up $1.32. U.S. crude CLc1 was up $1.64 at $50.85 a barrel.
The risk from the attack in Yemen was heightened because the Houthis have received some support from Iran, Saudi Arabia's long-time rival for dominance in the Middle East.
"The Saudis have taken military action because they have said the Houthis are getting support from the Iranians," said Li Guofu, director of the Centre for Middle East Studies at the China Institute of International Studies.
"This is an indication that the war may gradually spread into a regional conflict. This is something the Chinese government is very much concerned about," he said.
Beyond oil, the Middle East is also the world's biggest exporter of liquefied natural gas (LNG) via Qatar and Yemen, ..."
don't know how that plays with GLP...but interesting...the offshore drillers should zoom again...have been, for A WEEK NOW .... WTI ... 50.92 / BRENT ... 58.37
JUST SAW THAT...ZOOMING....I think you might see some major capitulation by the shorts tomorrow...SDRL / RIG / NE / ESV / ECA / etc etc etc etc
Maybe, finally, get some high volume capitulation tomorrow?...big short positions in many stocks in energy sector....could be a wild time tomorrow !!!
And if the IRAN deal falls thru, could add to oil price...on future tensions...we'll see...any deal with them is a bad deal, imo...as they won't keep it...they've broken all other deals...and even bragged about doing so, on that 2003 deal....they have no intension of stopping...to get the bomb
not where we've been, or are now - but where we'll go, that matters...and people have diff ideas on that...rear view mirror stuff doesn't tell you much, now...Maybe when the IRAN talks fail...hopefully...then oil can get a bigger pop.
...will happen when IRAN abandons their nuke prgm...and melts down all it's centrifuges...yep (death to who?)
(probably similar odds...of those 2 events happening)
I read the other day that 14 analysts had a consensus avg price target of $14.10...and Global Hunter had a target of $13 ...but $15 sounds nice...was happy to have had the luck of picking up shares at $9.75 ON THE LATE DAY DIP...I get the idea some large entity wanted to drive the shares under $10 on expiration of option's day?...who knows...but if 'he' had to borrow shares to sell em'...to drive it down, well, that's even more shares to buy back / cover, later...But I have money spread all over the place...Hot ones recently have been the real dogs I just got for portfolio - SDRL / PBR / RIG...and some other beaten down dogs ! (But the LTS-A preferred stock is my biggest "cash flow" holding...paying 8.3% yield...pays monthly...nice...if you can get it at / under $24...with a limit order)
now now...we must be respectful...shines a poor light on your parents...Can't make a dime, cussing...right?...be a sweetie
hahaha...you must be hearing voices (whispering to yourself)?...if you covered some of your shorts, you could get some sleep...but you know I've been a very respectful guy in here - and I hope you made a ton of money....and good luck in your future investments....(but NO...there's absolutely no chance of a BK....zippo...it's so far removed from reality, it's actually funny...HAVE A GOOD DAY)
Navios Maritime Partners L.P. (NMM) current short interest stands at 4,995,175 shares. It has increased by 6% from the same period of last month. Around 7.4% of the company’s shares, which are float, are short sold. With a 30-days average daily volume of 1,113,155 shares, the number of days required to cover the short positions stand at 10.5 days...............
I don't think there was any news, per se....other than what is known about China's imports slowing down, too many ships, etc etc...old news now...I think it was just one of those odd "witching" days...would be nice to know those exactly how the plunge happened...who was involved...but I just try to analyze risk / reward , given the 18% yield vs. further weakness within the sector...BDI issue...global factors, etc...I just keep the bets small to "play in the sandbox"...but mostly I'm in nice yielding "preferreds", like LTS-A ...Pays about 8.3% yield...and pays divys monthly...nice cash flows....and a buck below 'par'...any buy at / under $24 is decent....very non-volatile...just seems to sit now, around $24...but I suspect it could pop back to $25 once the company stops bleeding self stock into the market...but I see that as a nice opportunity...good luck tomorrow, all,,,No use worrying about NMM...I'll not even get on the computer until about 10am, PT, so all the dust should have settled by then - and I may be pleasantly surprised....but have a glass of cabarnet...calms the nerves.
guessing time...why not I suspect that plunge got people worried...human nature (but after-hours was decent)...Anyway, I'd expect buyers to hold off, on the open...and those with 'fear' to sell on / near the open, pushing it down a bit more...10-20 cents?...After that, we'll see what the price action and volume is, during the day...and how it closes - hopefully above $10 ...(and hopefully, the entity that dumped shares...and those with stop loss positions that got 'taken out' will go away...(fyi : whatever I think will happen, generally does not (rather, the opposite occurs)...and since I'd not 'buy the open', that's probably the best move to make...)
ya know...I believe earlier in the week...or maybe the week before (?), the price had hit around 10.07, I believe...Then the stock ran up and up, to 11....only to wind up, after-hours Friday, back at 10.08 ...so, lots of roller coaster stuff...but in the end, we wound up at the same point, as before. As for where it goes Monday, who knows? If that seller is still around, we could get further pressure...but you'd think they dumped it all...hahaha...a ton.