Carlsbad
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Carlsbad last won the day on February 26 2018
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Word from the wise? “Political and economic events are shaping the oil market in a way that they have not shaped for quite some time,” Tamas Varga, senior analyst at PVM Oil Associates, said in a research note published Thursday. “The amount of uncertainties surrounding the global supply (and) demand balance is growing almost by the day,” he added. In other words, stay away from oil right now.
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Saudi Arabia's oil production jumped by nearly 500,000 barrels per day in June, so what can we expect in July?
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need we say more ... an emotional day
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still, I think that European companies can just start to create JVs to avoid working directly with Iran and avoid sanctions ...
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not sure 'bull' is the right word. How about 'buffoon'? Russia good now, Canada (and every other ally) bad. It's like foreign policy on anti-depressants when someone forgot to take their meds. I worry about North Korea. Not sure I worry about North Korea so much as I worry about ANOTHER North Korea.
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Right now, the geopolitical debacle with Qatar has entered the spite phase and I'm wondering what the Saudis will do next. They've already talked (allegedly) about building a moat to block the Qatari mainland. Basically, besides being necessarily friendly with Iran because the two share the South Pars gas field, the Saudis can't have Qatar getting so much foreign investment. It undermines the Saudi power base in the Gulf.
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definitely something to follow. like the chart from this link (and have been much more bullish on refiners, which this seems to follow):
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yet the mystery deepens he supposedly met with Fifa president on the 25th, yet they used a picture from a 'previous meeting' in the media:
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well, Ivanka just got 7 new trademarks approved by the Chinese Hope US foreign policy isn't about this. haha
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So I guess the question is, then, how do we see the oil market, fundamentally, in that timeframe? Doesn't look great to me, nor does it look disastrous. Prices are too high right now, but demand is still strong and will be for some time to come. U.S. shale doesn't always follow fundamentals, though. They seem to binge and purge, depending on their level of maturity.
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so we're up to $77 Brent and $71 WTI ... so how about some undervalued oil stocks to look at? 1) Apache (good leverage to higher oil prices) 2) Marathon (biggest, most diversified presence in terms of E&P but everyone's on to this already) 3) Carrizo (mid-cap, Eagle Ford, Delaware, beat earnings estimates and looks like good upside)
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And here's more on the 'petro-yuan' promotion idea from Reuters: https://www.reuters.com/article/uk-iran-nuclear-china-oil/iran-oil-sanctions-could-advance-chinas-petro-yuan-idUSKBN1IB32H China is positioned to be a chief beneficiary of the U.S. decision to withdraw from the Iran nuclear deal as it would give China leverage to demand oil imports be priced in yuan, several currency experts said on Thursday.
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and I suspect the people are more interested in eating about right now.
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maybe Turkey will go for it. They were great at helping Iran skirt sanctions with creative money-moving
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