Oil Price Watch

[uls]

on a longer timeframe





if Brent doesnt fall below the psychologically important 50, it's bullish still

[uls]

From page 408

posted April 21, 2017

i think this is my most hated post hahaha

if Brent doesnt fall below the psychologically important 50, it's bullish still

[StockEngine]

and the glut ... causing OPEC to talk cuts again...

financial times

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[StockEngine]

there goes the floor. ...




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[zoomzoom]

Oil Falls Below $5 as Surging U.S. Output Undermines OPEC Cuts - Bloomberg

Oil Falls Below $50 as Surging U.S. Output Undermines OPEC Cuts

Oil dropped below $50 a barrel as investors lost faith that an extension of OPEC-led supply cuts will overcome growing U.S. production and ease a global glut.

"The drumbeat of bearish data continues to put pressure on the market," Michael Cohen, head of energy commodities research at Barclays Plc in New York. "The bulls don’t have much of a leg to stand on now."

[uls]

Oil Falls Below $5 as Surging U.S. Output Undermines OPEC Cuts - Bloomberg

That's wti

Brent is still above 50

[uls]

[StockEngine]

Pagkatapos ng 3 weeks na OIL PRICE HIKES, ROLLBACK naman next week!
Eto estimate:
Diesel/Kerosene = P0.30-P0.40/L
Gasoline = P0.25-P0.35/L

frm alvin elchico

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[uls]

are bulls just gonna let brent fall without a fight?

back above 52

[uls]

putting things in perpective

brent fell below $30 in January 2016



let's see if brent can even break below 50 this time

[StockEngine]

putting things in perpective

brent fell below $30 in January 2016



let's see if brent can even break below 50 this time

brent fell below 30 because producers were showing off their capacity and fighting for market share.

now these producers are in an effort to cut supply to control the prices.

even Iran is already in the boat with the supply cut extension.

this monday they will talk about the extension and boost prices by a few %

inventory reports will drop the prices in the following days...





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[uls]

inventory reports will drop the prices in the following days...

we'll see

oil doesn't trade on fundamentals alone

[StockEngine]

slow fall...


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[uls]

It's the June 2017 contract that fell below 51.00

That contract will expire tomorrow

[uls]

For those unfamiliar with oil futures, when we google Brent oil price, the price we see is always the front month contract

Meaning it's the nearest month contract that's being traded

When the front month contract expires, the next month contract becomes front month

Spot cash is for immediate delivery




Notice June 2017 price is lower than July

An explanation is since the contract is expiring tomorrow it is trading at a discount to fair value

Traders have to sell before expiry unless they wanna take delivery of physical oil

Tiyaga ko mag explain ngayon gabi hehe

[uls]

hate to say this but...

it's friday and brent is still above $50

HEHEHE

the June 2017 contract did fall below 51.00 yesterday as i predicted

but it recovered and is now at 51.64

today is the last day the June 2017 contract will be traded

Oil prices finish at lowest level in a month - MarketWatch

Brent for the same month LCOM7, +0.39% lost 38 cents, or 0.7%, to $51.44 a barrel. It had touched a low of $50.45, which was the weakest intraday low since late March. The June Brent contracts will expire at Friday’s settlement, which often adds to trading volatility.

[Lady Bathory]

For those unfamiliar with oil futures, when we google Brent oil price, the price we see is always the front month contract

Meaning it's the nearest month contract that's being traded

When the front month contract expires, the next month contract becomes front month

Spot cash is for immediate delivery




Notice June 2017 price is lower than July

An explanation is since the contract is expiring tomorrow it is trading at a discount to fair value

Traders have to sell before expiry unless they wanna take delivery of physical oil

Tiyaga ko mag explain ngayon gabi hehe

haha don't drink tea at night dude.

[uls]

July 2017 contract is now front month contract

[Leo_Arz]

GOOD NEWS! Malaki-laki ang ROLLBACK sa petrolyo NEXT WEEK.
Estimates:
GASOLINA P0.90-P1.00/L
DIESEL P0.70-P0.80/L
KEROSENE P0.90-P1.00/L


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[Leo_Arz]

Shell ROLLBACK
₱0.85/L VPN+ Racing97, VPN+95, FuelSave91;
₱0.70/L VPN+ Diesel, FS Diesel;
₱1.00/L Kerosene;
eff 06:00AM May 2, 2017


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