Well..... Texas is in danger of a recession Turmoil in the oil market could knock Texas into a recession. ...."But oil's dramatic plunge below $55 a barrel is scaring the shale industry. Since some wells are unprofitable at lower prices, shale companies will be forced to dial back capital spending and cut jobs."...... http://money.cnn.com/2014/12/18/news/economy/texas-oil-recession/ http://www.houstonchronicle.com/bus...rmoil-coming-to-Houston-s-economy-5976074.php http://fuelfix.com/blog/2014/12/19/jpmorgan-texas-at-risk-of-recession-next-year/ https://www.texastribune.org/2014/12/19/brief/ http://www.nola.com/politics/index.ssf/2014/12/as_oil_prices_continue_to_fall.html http://www.thefiscaltimes.com/2014/12/19/Collapsing-Oil-Prices-Could-Really-Mess-Texas http://www.gilmermirror.com/view/fu...l-Crash--JPM-Warns?instance=home_news_bullets I think the "West" - US and Europe got to think very hard on the decision to keep OIL prices low.... via intervention..... manual intervention(supply/OPEC/etc, etc...) or financial tools interventions( HFT's shorting)..... This "Boys fighting game" will end up biting back....... Why can't we all live with each other and thrive to amazing levels of standard of living? lol :lol: HUMANS ARE DAMN STUPID !
Interesting...... I also wonder what the options maturities and all the hedging will turn up to be..... Could we see another good drop on prices ? If so, it's going to be another window of opportunity to trade and/or invest in OZ oil companies.... http://www.zerohedge.com/news/2014-12-28/spot-odd-one-out
Saudi Arabia Ready For $20, $30, $40 Oil Brent crude and West Texas Intermediate (WTI) fell 2 and 3.3 percent respectively to start the week and Saudi Arabia is prepared to go much lower in a bid to trim the fat. Oil Minister Ali al-Naimi said as much in an interview with the Middle East Economic Survey on Monday. Naimi defended the Saudi position and made clear that OPEC nations will not cut production at any price. His comments dismiss any notion of collusion with the United States and spell trouble for producers everywhere. http://oilprice.com/Energy/Oil-Prices/Saudi-Arabia-Ready-For-20-30-40-Oil.html http://www.rigzone.com/news/oil_gas...imi_Tells_Market_to_Forget_OPEC_Cuts/?pgNum=0
Just bought some SUNDANCE ENERGY (ASX:SEA) seems better capitalized than other fracking companies in the US and seems oversold to me, if Oil stays down or goes lower they may bomb out but any reversal in the oil price will see a good rebound imo. Figure we are at the calm before the storm, I can see major conflict starting up soon somewhere which could easily reverse the crude trend again. Buy at 50c with a 83.5c target in coming months, lets see if I win or loose on this one.
Hi Tozak, good luck with your new "venture" I see SEA had a good run today... well done mate... capitalise on opportunities... take care T10
I'm wondering if OIL will test $USD50 soon.... after the festivities.... watching it closely for another window of opportunity....
Looking quite interestingly.... I'm waiting on volumes trading perhaps in 2 weeks time.... Hedge Funds Surrender to Oil Rout as Bullish Bets Drop Hedge funds finally pulled back from bets on higher oil prices as the market faced its worst year since 2008. Speculators reduced their net-long position in West Texas Intermediate crude for the first time in four weeks, cutting their holdings by 5 percent in the week ended Dec. 23, Commodity Futures Trading Commission data showed yesterday. Long wagers dropped the most since August. http://www.bloomberg.com/news/2014-12-31/hedge-funds-surrender-to-oil-rout-as-bullish-bets-drop.html
HOUSTON, we have a problem..... Oil prices fall to five-year low; 250,000 jobs at stake in 8 states ..."In a 50-percent fall in oil prices, Texas and seven other oil-pumping states including North Dakota, Louisiana, Oklahoma, Alaska and others could lose combined 249,700 jobs through the middle of 2015, with more than half of that coming from sinking Texas payrolls, according to a Federal Reserve Bank of Dallas model of how falling oil prices impact U.S. jobs.".... http://fuelfix.com/blog/2014/12/29/...ve-year-low-250000-jobs-at-stake-in-8-states/ They US and EU can continue try to derail Russia with currency and commodities wars but, they will derail themselves.......
Gees this is not good for U.S employees.....I like cheap fuel but not at the expense of thousands of jobs!
I'd be curious to know how much of this deliberate price reduction is targeted at Russia. I know a lot of the talk I'd about trying to wash out north American high cost production but this coupled with sanctions is likely to stall out or completely break a pile of Russian capital energy works. The low prices also keeps China from bailing out Russia through bilateral energy deals. High prices and sanctions would be a recipe for a Russian-Chinese energy complex but there's not much chance of that when the open market is so cheap. I'd be very curious to know how much of the decision is market driven and how much is geopolitical. Meanwhile I keep kicking myself for not getting ivy santos when it was below $8. LNG isn't as badly affected and I'm reading some hopeful things but I'm finding it hard to buy now when it's 20% higher than it was a couple weeks ago and oil could go lower. I've also been thinking about buying the oil etf if we see another 10-15% drop.
I don't believe hurting Russia is the purpose of lower oil prices, just a nice consequence for the Americans and Saudis. It's simple supply and demand. We've seen dropping prices across almost all commodities recently not just oil over the past months and years (iron ore, coal, natty gas, copper, gold, silver). We have deflation in Europe and China slowing. We now have an oversupply of the market and the demand is simply not there to warrant $100+ a barrel.
Now that we have tested and pierced $USD50 and hit $USD49.90 I wonder if we might even see $USD48 -$USD45 or we are going to have a momentary rebound...... Still not keen in touch oil stocks just yet......I could be wrong and it could well rebound on tonight's trade..... I like the look of STO Santos again but, will wait....
Oil $48.70 -1.34 -2.68% Next stop $45 ? This week should be a cracker and window of opportunity to a possible scoop on oil stocks IMO....
I will be into santos large @ sub $7, I think it will get there, this is going to go on for a while, no rush.
That's rubbish..... Santos is no small cap explorer...... so do you see BHP prices now and say the same ? lol
