OIL PRICES DON’T HAVE MUCH FURTHER TO MATERIALLY FALL: GOLDMAN.
dc CB 23:44:43 GMT - 02/15/2016
JP
dosen't matter, what matters is in the thin access market the jive line got bought and stops were run. the API and EIA reports will be "late" this week due to the holiday ... so the battle is joined to get a better price for those .....200K contracts X 1000bls per contract.....200,000,000bls of oil that need a home...and since its WTI the only home is Cushing Oaklahoma.
shud be a fun week of dueling headlines
GVI Forex23:13:45 GMT - 02/15/2016
U.S. Oil prices extend gains to more than 3 pct, topping $30 a barrel as big Oil producers prepare to meet in doha
Mtl JP 20:12:20 GMT - 02/15/2016
now pray tell why would Vlad - a type who does not depend on the price of crude for the survival of his banks his own political or economic - meet with the OPEC gang - unless it is to his advantage ?
dc CB 18:02:40 GMT - 02/15/2016
zerohedge @zerohedge 2m2 minutes ago
LOL: SAUDI, RUSSIAN OIL MINISTERS SAID TO PLAN TALKS IN DOHA TUESDAY
london red 17:52:49 GMT - 02/15/2016
i have a wkly brent channel a whisker below 40 bucks. i wouldnt bet on it getting there but id take a short if up there.
dc CB 17:48:12 GMT - 02/15/2016
but those guys that are Long March in the 30's are gonna' be talkin' the jive to get out at a better price this week.
note the source of that below posted higher prices quote...The Price Futures Group, Chicago
Livingston nh 17:30:32 GMT - 02/15/2016
The folks who are betting on the low because of "talk" of production cuts and reduced capital expenditures may be whistling past the graveyard -- a modest rise in price will bring back some of the "lost" production because the barrier to re-entry is still low -- a rising price will also encourage an earlier episode of Cheating on cutbacks
Of course, it might be different this time
dc CB 17:21:08 GMT - 02/15/2016
the March contract goes off the boards Mon 2-22, so 4 days to get out Long OR Short of 200K+ contracts. And Cushing is practically full.
"There are a growing number of people that think the market has put in a bottom," said Phil Flynn, senior market analyst at Price Futures Group in Chicago. "There’s a growing realization after all the announcements of cuts in capital expenditures that we’re going to see a drop in production."
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