Oil Price Watch

[uls]

check this out

tons of open interest for WTI June 2017 call options with 55 dollar strike price



that's WTI ha, not Brent

high open interest is a bullish signal

[ninjababez]

bro uls sino kausap mo :P

[uls]

bro uls sino kausap mo :P

wala naman

hehe

[StockEngine]

opec is begging ...

OPEC to U.S.: Please don't pump so much oil! - May. 11, 217

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[baludoy]

^ Well those opec guys have to direct their beggings & pleadings towards argentina too since pretty soon they'll be a fracking hub too

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[Leo_Arz]

Gasoline increase estimates:
P0.25-P0.35/L
Diesel/Kero no movement


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[94mitsukid]

Gasoline increase estimates:
P0.25-P0.35/L
Diesel/Kero no movement


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Sana next week rollback naman

PAJ 4M40 MORE POWER!

[uls]

are the powers-that-be just gonna sit there and let oil prices fall to $40? $30?

[Monseratto]

are the powers-that-be just gonna sit there and let oil prices fall to $40? $30?

Saudis, Russia Favor Extending Oil Output Curbs by 9 Months - Bloomberg

[uls]

^^^

gave their hedge fund friends a reason to bid up the price

[uls]

we get a price mover every week which is the US EIA oil inventory report

but that doesn't represent oil inventories for the whole world does it

the rest of the world (ROW) doesn't report oil inventories as timely and as accurately as the US

nobody really knows how much oil there is in the ROW

Floating oil storage has dropped by one-third in 217: OPEC source
| Reuters

Global oil inventories in floating storage have declined by one-third since the start of the year, a source from the Organization of the Petroleum Exporting Countries told Reuters on Monday.

The drop in stockpiles is the latest sign that output cuts by major producers have helped deplete a global glut.

[uls]

there's just this glut narrative that's dominant right now

yes it's a narrative

and that narrative will fade sooner or later

[uls]

talking up the price of oil

[uls]

Brent ended the week above 53

WTI broke above 50

i think the market is getting ahead of itself and it's OPEC's fault

OPEC has been leaking info

If they want higher oil prices, they should shut up until May 25

by conditioning the market with leaked info there's less potential for upside

if there weren't leaks and OPEC surprises the market with deeper and longer production cut, Brent could rally to 60

[uls]

brent broke above 54

market too optimistic

[Monseratto]

Pump prices to rise again on Tuesday | ABS-CBN News



Gasoline - P0.65/L
BioDiesel - P0.60L
Kerosene - P0.70/L

[uls]

nothing to post

OPEC later

production cut already priced in

how much more upside could there be?

could see profit-taking

[StockEngine]

extension of the output cut doesnt help at all... they need to cut deeper.



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[papi smith]

Only war in oil producing countries can make this go up, otherwise, yung cuts nila will just be taken up the shale and other oil money starved producers (Iran?).

Alternative sources of energy getting cheap, wala nang pag-asang tumaas ito, except excise tax hehe..

[uls]

sabi ko nga traders will take profit

2 weeks ahead of OPEC's announcement they've already been telling everyone what they're gonna do

the market has already priced that in

from under $50 two weeks ago to $54 yesterday morning

so ano pa gagawin ng mga trader after the announcement?

there's nothing more to drive oil prices higher

if you bought a Brent futures contract (1 contract = 1,000 barrels) at $48 or $49/barrel and it went to $54/barrel

magbenta ka nalang (ganyan din naman gagawin ng ibang trader)

lock in profits na kesa mawala pa