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- Momofrmnyc commented Apr 22, 2020
You and I are merely spectators in the market first and foremost. People said oil couldn't go into the negatives in futures contracts and it did, people said oil couldn't dare go lower than $20/bbl and it did, people said it can't go any lower and ...
Crude Inventory +15M Barrels vs +13.8M Expected
- Momofrmnyc commented Apr 22, 2020
It's still showing a buildup meaning less demand and more supply - with the economy in work mode you'd most likely never see oil buildup like this in the weekly inventory. You're in the market to sell your product at the end of the day. If you have ...
Crude Inventory +15M Barrels vs +13.8M Expected
- Momofrmnyc commented Apr 21, 2020
Makes it much easier for to profit though at the same time.
Trump is bailing out US Oil and Gas Industry
- Momofrmnyc commented Apr 21, 2020
Perfect been waiting on a headline changer for some volatility.
Trump is bailing out US Oil and Gas Industry
- Momofrmnyc commented Apr 20, 2020
The U.S Govt would have their hands full if they decided to go after all of these guys.
US Govt pushes for prison sentence for ex-JPMorgan FX trader
- Momofrmnyc commented Apr 20, 2020
I quoted myself from another topic from earlier. You have eyes you can see that correct?
Saudis mull applying oil cuts as soon as possible rather than in May
- Momofrmnyc commented Apr 20, 2020
The irony of anything from the dollar tree being worth more than oil futures is unprecedented. This will be solidified in history. Bravo markets for finally bucking the artificially high prices that didn't match demand.
The price of U.S. front-month crude oil futures is now MINUS $40 a barrel
- Momofrmnyc commented Apr 20, 2020
Your totally right about that. Well you can swallow the pill and rollover for next month (obviously that'll be a cost to you). Regardless we are in unprecedented times that's for sure.
US Crude Oil Futures Below $0, First Time In History
- Momofrmnyc commented Apr 20, 2020
That was a little over an hour ago. Thank you for always being predictable.
Saudis mull applying oil cuts as soon as possible rather than in May
- Momofrmnyc commented Apr 20, 2020
Funny as well when I go back in my past comments I refer to oil as well dropping a few weeks prior but alas I know shit about oil futures. We do both understand the basic supply/demand and that TRUMPED everything today.
US Crude Oil Futures Below $0, First Time In History
- Momofrmnyc commented Apr 20, 2020
Just imagine being on the right side of this. The win would be one of the greatest of the year in your portfolio.
US Crude Oil Futures Below $0, First Time In History
- Momofrmnyc commented Apr 20, 2020
Where does one store all this oil?
US Crude Oil Futures Below $0, First Time In History
- Momofrmnyc commented Apr 20, 2020
Waiting from some random OPEC headline or someone related in the oil industry to try to juke the markets up.
US Crude Oil Futures Below $0, First Time In History
- Momofrmnyc commented Apr 20, 2020
The beauty of a nice rollover for a futures contract eh. Well what can you do at the same time? The demand has fallen off a cliff. No production cut can erase the drop off in demand for oil. No matter how hard they try to juke the markets up.
Russian Energy Ministry orders oil producers to reduce production by 20%
- Momofrmnyc commented Apr 20, 2020
Well good thing about this technically is it's only up from here right!
Russian Energy Ministry orders oil producers to reduce production by 20%
- Momofrmnyc commented Apr 20, 2020
I'd LOVE to pounce on this cheap oil just to store it and bring it back out when markets are on better terms. Alas no one has a hundred million tanker to lend me.
Russian Energy Ministry orders oil producers to reduce production by 20%
- Momofrmnyc commented Apr 20, 2020
Yeah just pray a 2nd spread doesn't occur. It'll be a different story for everyone if that happens in the USA.
Don't reopen yet, governors tell Trump as coronavirus deaths cross 40,000
- Momofrmnyc commented Apr 20, 2020
Trying to pump oil up ehhhh
Russian Energy Ministry orders oil producers to reduce production by 20%
- Momofrmnyc commented Apr 17, 2020
Dude you usually are on the wrong side. Oil will have its time to resume upwards when demand increases. Naturally you hope that in opening prematurely you don't cause a 2nd wave of sickness. Last time we had this conversation a week or two ago you ...
The Dollar and Equities are Finishing the Week on Firm Footing
- Momofrmnyc commented Apr 17, 2020
Yeah no that's a dud of a move right now.
Poloz: Oil price drop alone would have required 100 bps rate cut