Something said needs anote look. A $10 increase in price is not a 20% increase to the company but much more. It could off as much 100% increase in net with these low prices.
Google it, very interesting point of view. Below are a couple of snippets from the article. You are not hearing this type of comment in the US press
"A spokesman for the Houthi rebels responded in kind, commenting: "We have already proved to you in 2009 how easy it is to invade the territory of the kingdom. Your army is weak. Today we are more skilled. When we decide to invade, we won't stop in the city of Mecca, but will continue on to Riyadh to topple the government institutions."
"For its part, Saudi Arabia is issuing statements that could have been written in Jerusalem. "Iran is an aggressive state that is intervening and operating forces in the Arab world," Saudi Foreign Minister Saud al-Faisal said this week at a joint press conference with his British counterpart, Philip Hammond. "Its nuclear weapons are a threat to the Gulf and the entire world."
He then went on to convey a message to the Obama administration, saying: "Striking a deal that Iran doesn't deserve is not right. Think, too, about the dangerous ramifications of the Iranians' 'second plan.'"
This "second plan", about which Israeli intelligence officials have been warning for the past five years, involves Iran's desire for #$%$ control over the Arab world, with the ultimate objective being control over the Muslim holy sites in Saudi Arabia."
The following is from Al Jezeera. They sucinctly highlight the risk of the Saudi move
"The special danger for Saudi Arabia in Yemen is that expanded operations by Al-Qaeda and ISIL would be a huge new magnet for jihadis from around the world to gather in Yemen in order to try to overthrow their great ideological prize next door: the Saudi theological leadership of the Islamic world. It would be ironic if the Saudi-led military move to thwart the expansion of presumed Iranian-backed Houthis ended up creating a much more tangible threat to the Saudis and other GCC governments: thousands of takfiri-Salafist militants in their immediate neighborhood.
The emerging scenario of four out-of-control countries shattered by war — Iraq, Libya, Syria and Yemen — is frightening, but it may be the inevitable price the world pays for continued unchecked militarism across the region, whether led by Western or Arab powers."
You left off that the administration release a classified doc on the Israeli nuke program a couple days ago. Not sure who is running the company but their sympathies seem pretty apparent .
In Tikrit Iranians are on the ground helping the Iraq and Shia militias fighting ISIS and we are providing air support bombing ISIS. In Yemen the Iranians are opening helping providing material support to the Shia Houtha rebels and we are helping the Saudis bomb them.
Aventador, you do read the news right? Well maybe not or you would know what the Saudi air force is up to
They are just grouping up on the border so that ISIS troops can go take them out. Nice opportunity for ISIS to pick up some fresh arms
Bait, doing well. Not loving the current price of oil but as you say it opens opportunities.
I do expect the oil price to turn up sooner than later. $10 bucks per barrel makes a HUGE difference with Whiting
A US source that described the concentration of Saudi troops as “significant” made a guess that Riyadh might be getting ready to strike the Houthis if they attempt to seize the residence of Yemen’s legitimate president. It cannot be excluded that Saudi Arabia might use its Air Force to strike rebels near Aden.
Crude is up even with another very large crude build again last week in the USA. Then again crude production was down 1 million bbl per day in Iraq.
In the end its all about the price of oil
Iraq's oil exports for last month were below planned levels, the country's Oil Ministry said Wednesday, depriving the nation of badly needed funds for its battle against the Islamic state group.
Crude exports in February averaged 2.596 million barrels a day — almost a million barrels less than planned.
The situation is apparently not so dire after all
Where? Right at the top of the tanks.
A supply glut has dragged U.S. crude for May delivery almost $10 a barrel below contracts a year out. This market structure, known as contango, has encouraged traders to shove the most oil in 80 years into storage so they can sell it for more in the future. The problem is, tanks are filling up, according to banks from Bank of America Corp. to Citigroup Inc. and Goldman Sachs Group Inc.
That’s where the extra space comes in. There’s the normal “working” capacity. And then there’s “contingency” space, a buffer between the working storage and the tank tops that typically sits empty to keep oil from spilling out. The company that built most of the tanks at Cushing, Oklahoma, the biggest U.S. oil hub, says the buffer is about 3 to 5 percent of storage space. That’s equivalent to about 20 million barrels of room in tanks across the country.
a 40% drop in oil in just over 2 months is hardly months and months. Check your historical charts. On Oct 302014 oil was $81 and on Jan 9 2015 it was $48 roughly where it remains today. That drop broke a roughly 5 year range of trading between $75 and $110
Chad, I will take it one further. I believe the Obama administration is encouraging the Saudis to flood the market