More and more, traders are learning that weekly inventory moves have nothing to do with the fact that oil supply still greatly out weighs demand world wide. Continuing to dwell on small inventory moves at individual storage sites has nothing to do with supply and demand and more to do with shipment timing.
You are absolutely right--fundamentals are out the window going forward. Big money(banks, oil) will force this issue, they have too. Over supply, higher dollar--really don't matter anymore.
How come there's no huge headline about this. Read it in a news flash on seeking alpha last night. Over 300,000 bpd to start. So much for the temporary stopage's. I wonder what the big money excuses will be today. Mean while glut continue more than ever--not decreasing one bit.
Tough to call any price here anymore since the commodity no longer trades based upon fundamentals--ie. supply and demand. If it did, oil would easily trade back into the 30's per barrel as supply continues to exceed demand week in and week out. Best not to trade this market at all.
And yet oil price still rises--this market doesn't care about fundamentals. Money is behind the long futures so as to get the US market going again. Forget these reports as they no longer have a correlation to whether the price of oil goes up or not. Follow the big money in the futures, that will tell you what side to invest on.
I'm no RAS rah rah, but you leave alot of info out of your numbers. Perhaps the biggest item is the significant write down and eventually off of the Taberna fiasco, That accounts for most if not all of you equity change from 2012 through 2014--but if you had a clue you would already know that and that that issue was necessary for RAS to move forward. That said, they were issuing new shares all along to make new investments, but now due to share price, that has been discontinued. Almost half way through 2016 and shares are still at 91 million--no new issues. Capital is very tight for RAS right now, no doubt about it, but i really don't think your analysis will continue out as it did--but you already know that. What matters as an investor is what does the future hold, and not what happened in the past--unless the company has made no changes--which with the removal of Taberna investment , significant change has been accomplished--but then you already know that--you just left it out.
They may be a significant owner, who by the way made a great investment and is now cashing in on it, but I wouldn't classify them as an "insider". Insiders have NOT sold any significant shares.
Not seeing any huge insider selling other than options transactions. Where did you get your info. ETrade doesn't reflect what you are saying.
I have no reason not to believe them--they had been able to produce time and time again. That coupled with Iran's increase and a slowing economy world wide shows me that the glut is here for awhile. Doesn't mean big money won't continue to support prices even though excess supply has not changed in three months.
Companies that have money left over do not cut their dividends. They are certainly in a capital squeeze position. That being said, they are far from going out of business.
So just continue to ignore the continued week after week of over supply and the slowing economies world wide? Regardless of the small day to day disruptions which have occurred, each week there continues to be a supply glut--at some point it won't be ignored. No way you see any where near 75 unless big guys cut supply. So far they have promised to increase an already high production of oil.
Double talk doesn't work with me. I am having a nice day because I stayed in for the dividend and the stock is far from $29 and reported strong results. Now all of a sudden you are "almost fully invested" instead of looking for $29? Yeah I believe you. Not. Me have a Doughnut--your a joke--with no credibility. Enjoy your dreams.
A new supplier heard from--Can't see how ppb of WTI can stay over $35 without big hedges buying up the futures. That has to get old soon with no real demand growth or supply cuts.
I have to agree that rig count will start to move up again. Just the news out of WLL is enough to stop the losses going forward.
yet oil remains positive--big money moving the oil markets. Fundamentals are meaningless at this point. No justification except big guys throwing money to the long side. Time to get out of the oil trading business--when they stop following fundamentals , it's just to risky.
WLL , with investment from an un-named third party is going to begin opening back up some inactive fracking wells. If prices stay in the mid 40's this will be the trend, and supply will be in excess by more than it is now. Also, data out of China on gasoline usage was poor--demand was little changed,, not good from the fast growing--or should i say fast slowing economy. Oil is clearly no longer trading on fundamentals.