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Started By
Message
WTI at $56. Will it hold?
Posted on 11/6/17 at 7:20 am
Posted on 11/6/17 at 7:20 am
Personally, I hate paying higher prices at the pump, but living in Louisiana, I'll take one for the Gipper. Go for $60....
This post was edited on 11/6/17 at 7:50 am
4
Posted on 11/6/17 at 7:30 am to tigerpawl
A week ago I would have said no, since all the turmoil going in SA all bets are off. A coup attempt or anything of the like will send prices through the roof overnight.
This post was edited on 11/6/17 at 8:34 am
Posted on 11/6/17 at 7:39 am to tigerpawl
I hope it sits right there for 6 months or more. Skyrocketing price is going to be a huge pain for the industry and consumers. We are so thin and under experienced right now. Any recovery needs to happen in due time.
Also think volatile price increases only lead to volatile price decreases.
Also think volatile price increases only lead to volatile price decreases.
This post was edited on 11/6/17 at 7:41 am
Posted on 11/6/17 at 8:26 am to KG6
quote:
We are so thin and under experienced right now.
Perfectly describes my company, and it's the companies own doing. They cut all the experience in favor of younger cheaper options.
Posted on 11/6/17 at 11:30 am to WavinWilly
Crossed $57 today
Posted on 11/6/17 at 12:01 pm to WavinWilly
quote:
We are so thin and under experienced right now
Ditto. Working us hard right now. We took two new hires last week. They wont be ready to perform their job for at least 4-6 months due to training.
Posted on 11/6/17 at 12:41 pm to tigerpawl
Unfortunately I don't believe it will. 'Merica will turn the faucets back on and flood the market again.
Posted on 11/6/17 at 3:45 pm to tigerpawl
The drop in rig count has as much to do with this as the Middle East.
This said, frackers gonna start fracking.
My preference is equilibrium at $75.00. Given we finally have a logical spread between Brent and WTI I suspect short term we hoover between $50 and $60 WTI. Which is basically where it has been, but at the low end of that.
eta OVX has been on a steady decline, and it's at the low end of the its 52 week range. It trended up sightly today, but nothing alarming.
This said, frackers gonna start fracking.
My preference is equilibrium at $75.00. Given we finally have a logical spread between Brent and WTI I suspect short term we hoover between $50 and $60 WTI. Which is basically where it has been, but at the low end of that.
eta OVX has been on a steady decline, and it's at the low end of the its 52 week range. It trended up sightly today, but nothing alarming.
This post was edited on 11/6/17 at 3:48 pm
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