Richard -- Oil
11 responses | 0 likes
Started by wglassfo - May 27, 2019, 3:45 p.m.

Just wondering what your latest thinking is about oil

I firmly believe the world will have diminishing oil reserves, if it hasn't already started

Just wondering when you think supply and demnd are equal

I think we will have to use nuclear for energy at some time

All the other stuff made from oil will cost plenty

Just car tires alone uses lots of oil

I can't imagine all the other stuff made from oil

By Richard - May 28, 2019, 8:02 a.m.
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We are currently in a bull market in oil. the lows we had at $26.10 a few years ago and then the low we had at $42 are solid lows that will never be broken. It is taking time for Oil to move higher but it will happen. I have a cycle high due in 2020 and the only way for this cycle to fulfill itself is if the US attacks Iran. I have no knowledge that his will happen, but the charts say it will. Over all I am still sticking to $350 going into 2026, so there are other concerns around other then the war.

By silverspiker - May 28, 2019, 12:30 p.m.
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.......    GLASS=PACKS    ....

dude...... 300 acres of sweetcorn awaits you

By metmike - May 28, 2019, 11:34 p.m.
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Thanks Richard!

Oil prices fall as economic concerns outweigh supply risks

Business News

May 28, 2019 /  8:08 PM / Updated 2 hours ago

Oil prices fall as economic concerns outweigh supply risks

Henning Gloystein

3 Min Read

SINGAPORE (Reuters) - Oil prices fell on Wednesday on concerns the Sino-U.S. trade war could trigger a global economic downturn, but relatively tight supply amid OPEC output cuts and political tensions in the Middle East offered some support. 

By metmike - May 28, 2019, 11:35 p.m.
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By metmike - May 28, 2019, 11:35 p.m.
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metmike: Crude supplies have been going way up.  In 4 of the last EIA reports, the increases were 4.7 M or more. In fact this has resulted in an increase of more then 20 M during the period.                  


Release DateTimeActualForecastPrevious
May 30, 2019 11:00   
May 22, 2019 10:304.740M-0.599M5.431M
May 15, 2019 10:305.431M-0.800M-3.963M
May 08, 2019 10:30-3.963M1.215M9.934M
May 01, 2019 10:309.900M1.485M5.479M
Apr 24, 2019 10:305.479M1.255M-1.396M
By metmike - May 28, 2019, 11:36 p.m.
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Weekly US ending stocks of crude oil.



Weekly ending stocks for unleaded gasoline.




Weekly US ending stocks for distillate fuel oil(heating oil-especially used in the Northeast).

By metmike - May 28, 2019, 11:37 p.m.
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By metmike - May 28, 2019, 11:42 p.m.
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Why Are Gas Prices So High?

When Else Have Prices Been as High?

Actually, gas prices have dropped almost 15c in recent trading, since the highs around in late April.

3 months  below

1 year below

10 years below

By tjc - May 29, 2019, 12:29 p.m.
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  Chart suggests support near 55.  Timing says near term low this week.

By metmike - May 29, 2019, 1:23 p.m.
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Thanks tjc!

By Richard - May 31, 2019, 9:33 a.m.
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How strong is that support at $55. I went long Aug at $55.60 and I am trying to guess where to put my stop.