Oil Price Watch

[uls]

expect Brent-WTI spread to widen

brent is performing better than wti based on the performance of BNO compared to USO (BNO is the ETF that tracks brent, USO is the ETF that tracks wti)

[StockEngine]

the graph maker is limited to wti only..


i look at brent and wti...who knew?




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[uls]

Brent was stuck in a trading range since December 2016




OPEC's promise to limit production kept brent up while the persistent oversupply kept it down -- those market forces are pretty well matched that brent got stuck in a range for 3 months

US shale producers benefited from OPEC's decision to limit production

US producers restarted idled production as the price of WTI rose

the Saudis aren't stupid

they know they're doing US producers a favor by limiting production

they're not gonna limit production indefinitely

[uls]

and because US producers are back in business, their stockpiles rose

that sent wti below $50

[StockEngine]

8% must hurt...



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[uls]

for oil bulls it's a buying opportunity

[uls]

OPEC's output cut was supposed to rebalance supply and demand

with less oil being produced global stockpiles will be drawn down

that was how it was supposed to work

and OPEC sort of signaled to hedge funds and other institutional investors that oil prices will rise to $60 and beyond

well it seems it's not working out as expected -- stockpiles are being drawn down as fast as expected

with investment/speculative funds already holding record long positions in both brent and wti they're getting a bit impatient seeing oil prices unable to get to $60

it's now gonna take a lot more convincing to keep funds interested

[uls]

edit: stockpiles aren't being drawn down as fast as expected

[Monseratto]

Energy Undersecretary Felix Fuentebella estimated that gasoline prices will be cut down by P0.29 per liter, diesel by P0.44 per liter, and kerosene by P0.49 per liter.

- See more at: Another oil price rollback seen next week | Money | GMA News Online

[94mitsukid]

- See more at: Another oil price rollback seen next week | Money | GMA News Online

Sana magtuloy tuloy na to. Tapos lumakas piso kontra dollars. [emoji41]

PAJ 4M40 MORE POWER!

[uls]

Excellent analysis by The Bathory more than 2 years ago

[uls]

As The Bathory said...

[uls]

damn if you do damn if you don't Saudi Arabia

you cut production and oil prices rise, US producers pump more oil which then hold oil prices down

or you give up on the production cut and go back to pumping as much oil as you can -- make oil prices fall to put US producers out of business

[StockEngine]

glut is glut... over(over) supply in the market... oil producers will battle it out for market share.

market rookies are always welcome.

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[uls]

OPEC is screwed

OPEC was supposed to drive US shale oil producers out of business with their price war 2 years ago

but instead of driving shale oil out of business US producers adapted

they were able to re-engineer and increase efficiency and with lower cost of drilling rigs, steel pipes etc they have lowered their breakeven price down to HALF from 2 years ago

OPEC can increase production now and even if oil prices fell to $40 US shale oil producers still won't go out of business

[Monseratto]

[Leo_Arz]

Shell ROLLBACK
₱0.35/L VPN+ Racing97, VPN+95, FuelSave91;
₱0.60/L VPN+ Diesel, FS Diesel;
₱0.70/L Kerosene;
eff 06:00AM Mar 14, 2017


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[uls]

oil bulls are taking advantage of the pullback

lots of buyers come in when brent falls a bit under $51

[CVT]

Shell ROLLBACK
₱0.35/L VPN+ Racing97, VPN+95, FuelSave91;
₱0.60/L VPN+ Diesel, FS Diesel;
₱0.70/L Kerosene;
eff 06:00AM Mar 14, 2017


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Ang baba naman ng ibaba ng gasolina.... with respect to diesel percentage-wise.

Mas nagiging attractive tuloy ang diesel rides...

Yup,- understand - driven my world market conditions.

Just to illustrate, local situation (distance = 1,500Km a month) : This is about 18,000Km a year - our typical drive...

Gasoline at P42 per liter; 7Km a liter. Total cost of fuel is P9,000 a month
Diesel at P31 per liter; 8Km a liter. Total cost of fuel is P5,812 a month

Difference in fuel cost is $3,187 a month.... Or, P38,250 a year

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"The measure of a man is what he does with power" LJIOHF!

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[kagalingan]

^

Sa gasoline engine pa din ako.

- Hindi maingay makina (sisiw na sisiw mag-idle na walang nakakapansin, nagkakataloh lang pag nag-automatic aircon compressor doon mabuking na naka-start engine.)

- hindi iskandaloso amoy ng tambucho. Unlike sa diesel magreklamo kapitbay pag matagal naka-idle maingay na at masakit sa ilong.

- Sa oil change pwede ko palagpasin 10,000kms. or lagpas one year oil change. Sa diesel ewan ko kung kaya gawin nyan regularly.

- Yung itim usok nakakaturn off lalo na crdi pa

- 3thou a month na natipid sa diesel not really big savings sa smoothness sa pag drive ng gaso