Jabbar + 465 JN October 7, 2019 (edited) The deal being discussed foundation is based on China agreeing to make HUGE imports of U.S pork, Oil and Natural Gas Liquids (NGL). Great for U.S. SHALE producers. But traders be aware. I think Oil Prices go up initially, but come in after everyone realizes the large amount of U.S. shale exports increase prices come back down. Need to be quick on this trade. Protect your downside. Edited October 7, 2019 by Jabbar Quote Share this post Link to post Share on other sites
Boat + 1,315 RG October 7, 2019 Oil prices are a global commodity. I don’t think where China gets its oil matters in the long run as long as they keep consuming. Same with nat gas. I am sure the US producers will sell for the best price they can get. China or no China. 1 Quote Share this post Link to post Share on other sites
Bob D + 562 RD October 7, 2019 Agreed Boat. US is an exporter. China is an importer. Oil in fungible. I'd sell any rally in Oil until the demand equation is solidified. I regret that might not be until 2021. For now, we'll need to knock some supply off the market to get at least a short covering rally. That'll be OPEC (fast) or US rig count drop (slow). Look out $40's, here we come? Quote Share this post Link to post Share on other sites
Guest October 7, 2019 1 hour ago, Jabbar said: But traders be aware. I think Oil Prices go up initially, but come in after everyone realizes the large amount of U.S. shale exports increase prices come back down. Oil went up for 90 mins then went down all day. Gold star to @Jabbar . Quote Share this post Link to post Share on other sites
Jabbar + 465 JN October 7, 2019 (edited) 1 hour ago, Boat said: Oil prices are a global commodity. I don’t think where China gets its oil matters in the long run as long as they keep consuming. Same with nat gas. I am sure the US producers will sell for the best price they can get. China or no China. Agreed. Boat is correct. Oil Prices going down. Don't think ever coming back strong absent a major Middle East conflict. World Oil has not seen the effect of new pipelines to U.S. export terminals, Russia increase 500k day, Iraq increase 2 million day, Nigeria continue increase, Norway increase, Brazil 3 million increase, Guyana grow from zero to 3 million, Canada Keystone 800k increase. What if Venezuela, Iran settle ? Edited October 7, 2019 by Jabbar Quote Share this post Link to post Share on other sites
Douglas Buckland + 6,308 October 8, 2019 Aren’t you making the assumption that EVERYONE will increase production regardless what the price is? Quote Share this post Link to post Share on other sites
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