How High Can Oil Prices Rise? (Part 2 of my previous thread)

[ATK + 355]

Like how the hell is the price basically the same as before the fucking report! Seriously! How the fuck! God I want this market to burn to the ground and I hope all this hedge funds get fucking liquidated from their long positions

[Dan Warnick + 6,100]

2 minutes ago, ATK said:

Like how the hell is the price basically the same as before the fucking report! Seriously! How the fuck! God I want this market to burn to the ground and I hope all this hedge funds get fucking liquidated from their long positions

Easy now, big feller.  😎

[Dan Warnick + 6,100]

Have a look at this bit of news:

Iranian Missile Strike Called a Warning to U.S. Military in Syria

[ATK + 355]

Just now, Dan Warnick said:

Easy now, big feller.  😎

I'm sorry I have a very analytic mind set and when speculation trumps cold hard numbers it literally drives me insane. This oil market makes no sense

[ATK + 355]

1 minute ago, Dan Warnick said:

Have a look at this bit of news:

Iranian Missile Strike Called a Warning to U.S. Military in Syria

I saw that yesterday and prices didn't react, BUT NOW is a good time to react right?

[ATK + 355]

A 7.9 million barrel crude build and we are CLIMBING? Fuck you bulls seriously Fuck you, I have NEVER seen this before 

700% full on speculator mode

Edited October 3, 2018 by ATK

[Dan Warnick + 6,100]

4 minutes ago, ATK said:

I saw that yesterday and prices didn't react, BUT NOW is a good time to react right?

The message on the side of the launcher is really something.  Like they WANT Trump to react.  Amazing really.

 

[ATK + 355]

1 hour ago, ATK said:

EIA report will probably show a build and WTI will climb to ATH as a result, you know, for like reasons and like Iran or whatever 

Called it!

[Dan Warnick + 6,100]

There seems to be a lot of pressure to the short side of things, but the price is going up.  WTF, over?

[Osama + 248]

Even after a 8 million build up....the prices have touched another high...$75.80+!!! Well....this is seriously strange.

[ATK + 355]

11 minutes ago, Dan Warnick said:

There seems to be a lot of pressure to the short side of things, but the price is going up.  WTF, over?

Oh I can't wait to see how the media explains this, this was 8 million barrels we are talking about that I'd more than any draw we've seen in the previous weeks. On top of that the Saudi''s and Russia said they are increasing output. I'm hoping a lot of analyst see this and are like "okay yeah, the market isn't rational right now"

[Osama + 248]

12 minutes ago, Dan Warnick said:

There seems to be a lot of pressure to the short side of things, but the price is going up.  WTF, over?

My $70.10 looks a distant point now .... whenever I think of averaging it out. Thr price starts to tick upwards.

[ATK + 355]

Okay so a few things that could be going on, either that was a short squeeze or hedge funds trying to get out of their longs right now without pushing the price down much lower. Hell they could even be setting up shorts

[ATK + 355]

https://www.google.com/amp/s/www.marketwatch.com/amp/story/guid/E3DA14AA-C6F4-11E8-B749-3B074E7D01E0

HAHAHAHAHAHA their reasoning is literally just Iranian Sanctions! That's its! Nothing else! Nothing can stop the bull train when 8 million barrel build gets ignored

[ATK + 355]

2 hours ago, Osama said:

Even after a 8 million build up....the prices have touched another high...$75.80+!!! Well....this is seriously strange.

Just went past 76! You know... for reasons!

[Osama + 248]

9 minutes ago, ATK said:

Just went past 76! You know... for reasons!

Is this a good price to average out?

[ATK + 355]

7 minutes ago, Osama said:

Is this a good price to average out?

Can't say at all, this market doesn't work on logic

[Osama + 248]

5 minutes ago, ATK said:

Can't say at all, this market doesn't work on logic

One thing that I have learned from this short span of trading what you have just said: No logic. Next time I will make sure to try to think what the traders will think....but!! That isn't too easy as well!

[Jurandyr Arone Maues + 1]

Yes, oil will hit us$ 100

[Osama + 248]

1 minute ago, Jurandyr Arone Maues said:

Yes, oil will hit us$ 100

Even if it did....it will only do so because traders ate saying it. There is no proper/fundamental reason behind this rally. 

[ATK + 355]

4 minutes ago, Jurandyr Arone Maues said:

Yes, oil will hit us$ 100

Because hedge funds want that, OPEC or Iran isn't the reason for higher oil prices. It's banks and traders

[Osama + 248]

Just now, ATK said:

Because hedge funds want that, OPEC or Iran isn't the reason for higher oil prices. It's banks and traders

Indeed. 

 

This rally is mock at all those who employ logic, reason and research whilst working on oil markets. Gloating on fear and driven by greed! 

[huub gans + 1]

The PADD3 refineries (Gulf-Coast) will undergo a very light maintenance turnaround this fall/winter. This means that WTI inventories will not build as much as they did last year due to lack of processing and that the actual inventory build/drop will be a question of supply/demand pressures. Today the EIA report noted that inventories grew by +7.9mm bbls (vs +1.9mm bbls anticipated). Normally this would have pushed prices of WTI (CL-Nov18) down, but instead the price rose from USD 75.32 to where I closed my trade at USD 76.84. This means that there are more fundamental elements that are driving the market today, like the pending compliance with the Iran embargo, which may take 1.5 mm bbls off the market? Also the US and KSA could be hard pushed to compensate for this supply drop (Permian basin logistics bottleneck and KSA production-elasticity) and Russia may not be interested to raise their production? All it takes is Supply outages (Hurricanes in the gulf, Nigerian Pipelines and drop in Venezuelan production to drive CL to $100

[ATK + 355]

4 minutes ago, huub gans said:

The PADD3 refineries (Gulf-Coast) will undergo a very light maintenance turnaround this fall/winter. This means that WTI inventories will not build as much as they did last year due to lack of processing and that the actual inventory build/drop will be a question of supply/demand pressures. Today the EIA report noted that inventories grew by +7.9mm bbls (vs +1.9mm bbls anticipated). Normally this would have pushed prices of WTI (CL-Nov18) down, but instead the price rose from USD 75.32 to where I closed my trade at USD 76.84. This means that there are more fundamental elements that are driving the market today, like the pending compliance with the Iran embargo, which may take 1.5 mm bbls off the market? Also the US and KSA could be hard pushed to compensate for this supply drop (Permian basin logistics bottleneck and KSA production-elasticity) and Russia may not be interested to raise their production? All it takes is Supply outages (Hurricanes in the gulf, Nigerian Pipelines and drop in Venezuelan production to drive CL to $100

Refineries were back up to 90% utilization, exports were the main reason for the build as they were down significantly with a slight increase in imports

Russia and Saudi Arabia came out saying they were increasing production as well.

Oil rally started because OPEC said they weren't increasing production, now that they say they are nobody cares.

Oh and on top of that, emerging markets already getting hit extremely hard (bloom berg article came out) so demand destruction here we come

But yeah let's just continue to speculate that none of those things matter and speculate that speculating will drive prices onwards for things that haven't even come to fruition yet

[STG22 + 1]

The fact is the oil companies have been running on debt since 2009.  Shale is a total farce completely sustained by massive debt.  The U.S. its loosing grip on the Middle East and everyone is ditching the dollar in trade.  As interest rates rise oil companies will default and no longer be able to sustain expensive shale project which deplete in a year or so anyhow. Also the Saudis don't have a 1/10th of the oil they same they that why they ditched the 100 billion IPO.  But the big truth is the Fed is going to crash the economy and Trump's trade policies, Nationalism, as well as some skirmish in the Middle East will drive oil prices through the roof. Thus the Fed will have a the scape goats, when in reality all the central banks are turning off the stimulus. They want the system to crash so they can usher in a New World Crypto Currencies so they can track and tax every single transaction, as well as go to negative interest rates so they can charge us to save and use money..  Thus oil is headed way north of $100. Buy Gold.