Net drain is still ~13 million barrels per day, physical oil is trading ~$200 and so long as “the strait is open” on the IRGC’s terms, guess what, it isn’t open.
Futures can zig zag, do the polka, the jig you name it. It doesn’t matter for what’s coming in just a couple of weeks.
Edit: spelling
Posted by Dyn-O-mite_Rocketeer
23 Comments
Which oil is trading at $200?
What’s coming in 2 weeks?
Agreed
It’s not -13 lol. At best it’s -3
If you strongly believe that, make some money on it.
So will it recover by 2:30p on Monday when May futures settle… 😅
I heard Goldman and Vitol are looking for new Oil Traders. Perhaps this sub is good for their recruiting
Did you get out of crypto and invest in oil futures? Bro it’s gonna moon! HODL bro trust me!
Just for reference, you can pick up the barrels of oil in Oklahoma in a couple weeks if you hold a WTI contract a few more days.
So not actually all that disconnected from reality.
Calm before the shit storm?
Cope
I would take under 13 for the drain but I don’t disagree with your point. For a deal to happen, Trump needs to give the finger to Israel AND give Iran something meaningful where he will need to face Americans and claim it was a victory while Iran came out of it more powerful than it was before.
You Doomers in this sub are hilarious
Market was down today for RBOB and HO.
Reddit has constantly been saying its doomsday, world is over… but somehow…
Starting to lose faith in reddit opinions.
Hope you bought oil and gas on sale today. Here was my shopping list,
– Valeura Energy (Thailand crude, priced in Dubai)
– Tenaz Energy (North Sea TTF)
– Saturn Oil and Gas (high torque WTI)
– Athabasca Oil (WCS)
– Cavvy Energy (1/3 Vancouver sulphur spot exposure)
Loaded up boys, ready for Monday!
Love those doom posts, keep it up for a good laugh.
I keep seeing this “$200” price tag for physical oil. I believe it, but I can’t find a source. Does anyone know a good source to keep an eye on this?
My nissan leaf will be fine.
Yes. Also Iran is racing to bomb test and 4-5 nukes underground at Pickaxe Mountain.
Playing nice for time, playing Trump like fiddle. 3-6 months and then detonate
Nn
You smoking weed ?!?
A lot of geopolitical experts have said that a good outcome to this is Trump declaring victory and pulling out.
If the bots and bootlickers are setting the mood for an a withdrawal, taking the smallest L we can at this point, might be best.
Found the cope