What the FUCK is going on with oil? Stocks are up 15% in the last 3 days. Pic related, tempted to sell it and buy back when it goes back down.
hmm. i might Do the same with SDRL. any reason why this is happening?
Canada has oil shortages in places, would that do it?
you're stupid as fuck and you're going to lose all your money
its artificial, you should have expected this seeing that its an election year.
You are gonna see a war before oil reaches 20$
How do I lose my money if i'm up 15% and sell it.
What the FUCK is going on with oil?
Some environmental terrorist organization in Nigeria (?) took down a plant and caused shortage. It's barely been in the news.
OP is about to make a profit
Yur gonna lose your money!
Probably ISIS members getting BTFO by Russia
What is buying a futures contract on oil?
If you sell the stock then the stock wins.
Oil is going up but will it break the $69-$70 hyper-resistance level?
Nigeria has gotten a lot worse with militant attacks.
Venezuela is in a downward spiral. Their national company might stop paying workers and stop production soon.
Canadian production hasn't recovered yet.
Shale wells are continuing to dry up without more drilling.
It's summer and people are buying more.
Not all of these are really new, but the market takes a while to react to things.
mfw I'm up 30k so far this week
Far too many near broke companies will start drilling long before that and re-flood the market. Granted there is a delay between spudding and production but the market watches rig counts pretty closely.
nice dude well done. Most commodities are up actually. Do you trade precious metals at all?
It's kind of surprising though, the timing of it. There isn't much difference in the fundamentals this week as opposed to last, but there's been a large price change.
I bought oil because I like to think I understand the fundamentals about it, and the low price months ago was the biggest news in Canada.
I don't get gold. I don't understand the demand of it. Looking at charts I see there's a support level around $1100, so buying it a few months ago would have been a good idea.
environmental terrorism in nigeria
That's actually fucking hilarious.
All these people dying of aids and poverty are inevitable, what isn't is the health of our ecosystem!
If you really want to piss off an MBA who asks you, "Why is oil going up?" just use this answer:
"More buyers than sellers."
It's not ecologically motivated. They live in Biafra, which fought a losing civil war for years. Almost all of the oil is there, and they don't like sharing it with the rest of the country.
You cant just "start drilling" if you're a near bankrupt oil company. You need money to start new projects and no bank is going to give it to you. Bankers wont see new E&P as a good investment until crude stays in the $60s for 6 months. Offshore projects take a couple years from tenders to crude, anyway. Even onshore is takes awhile from the time the project is approved till the oil flows.
Invest in oilfield services because the rush they are going to get to get everyoned projects online as fast as possible will be the biggest in history. $SPN is already up to $19.50 from when I bought it at $14 last year
I knew oil was gonna rise. It sucks not having any money to invest :(
OP is prepared to based on a total guess. do you even have a valuation of the company? can you discuss the company intelligently in any depth at all?
why is BNE inevitably going back down? why is the stock price even being driven by oil and not a change on the board etc? why is oil even going back down?
this is why you're stupid as fuck, you literally gamble based on Veeky Forums "common knowledge" and have no idea what you're doing.
30k in a week
how? what kind of position size do you have, or do you use margin or options?
OP sells at a profit
"stupid gambler, youre gonna lose all your money"
I dont think you thought this through, user
Gold is simply. It's worthless when the economy is good but when economic uncertainty hits you'll have right wing/austrian economists pushing for people to buy gold to hedge against inflation.
I held my SDRL through today
About 70k. Not that impressive really.
so much this
what happens when chinese artificial demand plummets?
What do I do?
mfw hopped in on HCLP @ 6.90 usd