Getting into the $86/$87 range.. Anyone looking at buying oil down here? And if so, what vehicle do you use? USO?
EIA Petroleum Status Report
Released On 10/8/2014 10:30:00 AM For wk10/3, 2014 Economic Calendar - Bloomberg
Prior Actual Crude oil inventories (weekly change) -1.4 M barrels 5.0 M barrels Gasoline (weekly change) -1.8 M barrels 1.2 M barrels Distillates (weekly change) -2.9 M barrels 0.4 M barrels
Getting into the $86/$87 range.. Anyone looking at buying oil down here? And if so, what vehicle do you use? USO?
Well the dollar changed direction yesterday and that may allow Oil and Gasoline to turn to the upside in the near future. The FED didn't like the price of commodities dropping like they were, so they spoke that FED Speak in the wrong direction, we shall see. I definitely like a strong dollar.
dollarindex.jpg
DXY Index Quote - U.S. Dollar Index (DXY) Index Price Today (DXY:NYE) - MarketWatch
Purely apolitical. When an OPEC nation is going to have trouble paying it's bills, that may put more supply on the market, agree?
Exxon Wins $1.6 Billion Settlement for Venezuela Seizure - Bloomberg
A little peek -- doing a health check on the country itself via its 10y bond:
Venezuela Government Bond 10y | 2005-2014 | Data | Chart | Calendar
Pensacola E10 running $3.13 around me... $3.09ish at the cheapest stations.
Which one of you nuts has got any guts? -- Randle P. McMurphy
... stupidity will always find a way. -- Nnuut
Do Ya really think Venezuela will pay that settlement? Only if forced to pay it, for the benefit of the Politicians! That's Social Justice in a failing Socialist State.
E10 averaging $2.99 a gallon ans some are as low as $2.89 in Boiled Peanut GA!
No, they're already fighting it and it was a ton less than Exxon was originally seeking. That's the point. They can tell Exxon to go f&*k themselves. Just like the rest of the world can refuse to loan their government money. Argentina recently defaulted on their bonds for the second time in the past 15 years or so and what happened to their borrowing costs? Venezuela already has the highest interest rate for sovreign borrowing (for any "American" country). This will be double not good for them as a going concern. I expect more civil unrest as the belt tightening continues.
Which one of you nuts has got any guts? -- Randle P. McMurphy
... stupidity will always find a way. -- Nnuut
I agree with that!
Have you guys taken a look at Northern? $NOG. Need to open that chart up to the 10YR for support levels.
I'm heading out to fill up the fleet...100% pure 89 octane at Conoco is $2.89 and 91 octane is $2.99........Because it's how I roll...
A wise man speaks when he has something to say...A FOOL speaks when he just has to say something
Not lookin' good dollar UP, demand DOWN!
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