Crude Oil price

[farmerge]

Investing by taking physical delivery of the commodity.

Most definitely, when harvest starts we go through a fair whack of diesel on a daily basis. Every dollar saved to my back pocket is great.

 

[Chipp]

OIL at lows for year . $68 shaping up as a key level here

 

[farmerge]

OIL at lows for year . $68 shaping up as a key level here View attachment 183692

I'm liking the slide in oil prices very much. Starting to fill as many containers and the overhead tank as possible with harvest not too far away. Of course, the outlay is quite large, but the savings are there with the GST and off-road component.

 

[peter2]

I've been accumulating OOO as the POO is falling. WTI down to $65/bbl and looks like it may bounce here. I doubt the bounce will go very far as the world's economies slow.

 

[divs4ever]

I've been accumulating OOO as the POO is falling. WTI down to $65/bbl and looks like it may bounce here. I doubt the bounce will go very far as the world's economies slow.

how will you know ?

Russia is now selling oil for gold ( or buying gold with oil , same thing ) not to mention selling in yuan and rupees and goodness knows what for 'the grey fleet .

if they can't ( or won't ) stop oil from being smuggled out of Northern Iraq and Libya

who knows what is being produced and what it is traded in

the Saudis claim to now accept yuan , Iran is selling oil somewhere despite extensive sanctions

AND the US strategic reserves are playing their own manipulation game (low prices leading up to the election plus refill ( at least partly ) the depleted reserves

at least silver is only rigged by comparative amateurs like JP Morgan

i have a target price for extra BPT if it gets there i will add , if it doesn't i already hold some

 

[peter2]

i have a target price for extra BPT if it gets there i will add

Save some cash for when it goes even lower. BPT like WDS and STO are uninvestible, barely worth trading also.

 

[divs4ever]

bought from 76.5 cents down to 40 cents last time

sure it could get rough , but that is the oil game .. they start wars and regime change over it not to mention price manipulation

but as long as you KNOW it is rigged , you know how to calculate the risks

 

[rederob]

Middle East tensions and continuing escalations with Iran now joining the fray will see US/Israel look at striking back.
The below map shows Iran's oil infrastructure. It's massive and there's lots of targets.
However, Iran hapens to be able to control oil/gas tankers passing through the Strait of Hormuz, if vessels haven't already been targeted deeper into the Persian Gulf.
This is a huge dilemma as any escalation leading to Iran effectively closing the Strait of Hormuz will massively spike oil prices and depress global economies. The irony of the dilemma is that America will be the big winner as they are not dependent on ME oil/gas and their FF sector will profit handsomely.
I am not sure if China will be a big loser as it already gets much of its oil from Russia and Iran, but the effects of high oil prices will significantly dampen China's global trade.

 

[peter2]

WTI back down below $70/bbl. I'm reversing the mini-van into position for the initial load (via OOO.asx).

Missed the day trade on XLE yesterday, damn it.