“I have told you these things, so that in me you may have peace. In this world you will have trouble. But take heart! I have overcome the world.”
John 16:33
Nobody wants to hear this, but we’re close to the right price for $Oil.
You will not need to fight in this battle. Stand firm, hold your position, and see the salvation of the Lord on your behalf, O Judah and Jerusalem.’ Do not be afraid and do not be dismayed. Tomorrow go out against them, and the Lord will be with you.”
2 Chronicles 20:17
I am the door. If anyone enters by me, he will be saved and will go in and out and find pasture. The thief comes only to steal and kill and destroy. I came that they may have life and have it abundantly.
John 10:9-10
$Oil stocks selling off in spite of crude rally because:
(fill in the blank w whatever makes you feel good).
Boys and girls, can you say “Inelastic”?
API Inventory Moves 10/14 (including the rest of the data)
Crude -11.12 million
Gasoline +1.1 million
Distillates -1.5 million
Cushing +1.823 million
SPR actual +0
#oott #crudeoil #gasoline #distillates #API
High oil prices are not responsible for a bad economy or even high diesel prices. In fact, oil isn’t overpriced with WTI at 14 cents a cup.
The political elite seem to believe their actions will be without consequences.
We’re watching that assumption crumble in real time.
$Oil – we’re just getting started.
Wish Matt Simmons were here.
$Oil stocks should be soaring.
But they're not.
I can wait.
The world still hasn’t fully experienced truly high $Oil prices. What we’re starting to see is just how inelastic demand remains.
Deep and ultra-deep offshore $Oil fields average roughly 10.3% post-peak annual decline.
Pattern recognition used to be an edge. In algorithm-run markets it is the job. The machines trade patterns. If you cannot see the one they are trading, you are the liquidity.
Dated Brent is a crude oil benchmark representing the price of physical North Sea regional oil in tankers for delivery in the next few weeks and that price is beginning to surge again above $130 /bbl breaking away from the digital Brent futures price driven by increasing physical shortage:
David Jensen


