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Attachments: WTI Crude Oil Trading
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WTI Crude Oil Trading

Quoting tonny47
{quote} the graph only shows operating expenditure. with offshore, drilling equipment cost is very high (which is capital expenditure not shown in your graph) and could amount to as much as 90% of an oil producer's total investment.
I concur, total production is $20USD+ and also they are not in the market for survive, but to thrive

  1. 2016 data, for ballpark/ratios from WSJ.. http://graphics.wsj.com/oil-barrel-breakdown/
  2. 2020 data https://knoema.com/vyronoe/cost-of-o...ion-by-country
  3. Wiki data https://en.wikipedia.org/wiki/Price_..._of_production

As you see some countries are definitely not happy with this, specially since some were thinking about being self-efficient and be profitable at the same time
While other countries can play this standoff as they like, because they have reserves, power and their people might be much more used to lowering the standards...
Make your own conclusions... Also, for some downgrading from Benz to BMW might be a sign of trouble and they would do anything to keep the previous style... While others do not mind eat every second day without much panic. Just my thoughts and food for your thoughts And yes, that also affects SUPPLY, RESERVERS etc...

For DEMAND.. I concur with some previous that we might see (much) improvement in MAY when things might improve (much)... But let's see what happens... Will be focusing on smaller timeframes in the meantime and will wait for longer picture to present itself... might be within a week!

Can you afford to take that chance?
CHEETAH LIVE TE Return This Year: na
Looks like WTI is on a very low downward slope losing $0.94 on Wednesday and $1.00 today. $20 is a major support level.
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What a dead useless day. Hope it’s not like this the rest of the week. If it’s going to break $20 then be done with it already or else give us a nice bounce
Quoting Hutch
{quote} I like the picture you posted stating "Not sure where oil is going" looks like that the answer is a big DOWN Looks at the change since yesterday's close! {image}
Wow. It's tough to believe that it'll break that $20 handle. But it's looking like the more likely case.
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We must learn who is gold, and who is gold plated
I'd look at crude to have some upside momentum if it can break $21. It's opening strong in Asia so far. Day is still very early though.
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We must learn who is gold, and who is gold plated
Quoting EventsTrader
I'd look at crude to have some upside momentum if it can break $21. It's opening strong in Asia so far. Day is still very early though. {image}
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Make it Green
The gap between may-june contract get closer, but price look like so hard to brake at $20.. is there any negative news will realese which can make oil down again ?
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don't try to tell the market where to go , let him tell you
Any thoughts on tariffs being imposed on incoming Saudi oil, or too big a hit for the refineries?

Otherwise looks like a dead cat bounce off $20 at the moment
#WTI / H1
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Oil looking good for a BUY today. 28$ targets.
Ok the hell with it, let's test-dip the waters... BUY WTI at 25.355
Can you afford to take that chance?
CHEETAH LIVE TE Return This Year: na
bought 2 CL DEC 2020 contracts at 34$, Target 45 in Dec 2020
Quoting agazzi86
The gap between may-june contract get closer, but price look like so hard to brake at $20.. is there any negative news will realese which can make oil down again ?

MAY average = 20,5
JUNE average = 26,5

How did u come about its get closer???
Quoting zamans98
{quote} MAY average = 20,5 JUNE average = 26,5 How did u come about its get closer???
2 days ago $7,4.. now $6,5 gap get closer right ?
Quoting auricforecas
Ok the hell with it, let's test-dip the waters... BUY WTI at 25.355
Exited at 25.610, TakeProfit (TP). Not bad, for a leverage 50:1.. that is 50%+/trade... impressed. Market sure does provide good opportunities even if the trend is uncertain atm...
Can you afford to take that chance?
CHEETAH LIVE TE Return This Year: na
Wow shaping up to be another dead day. Liquidity seems to have gone.
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persistence and determination alone are omnipotent
Quoting auricforecas
{quote} Exited at 25.610, TakeProfit (TP). Not bad, for a leverage 50:1.. that is 50%+/trade... impressed. Market sure does provide good opportunities even if the trend is uncertain atm...
Holy, now I see in retrospect that I exited just after it went to s... And I was thinking in time should I wait a little but then decided to stick with the plan... BTW I used to trade even smaller price differences (like .12 only) but then reduced the leverage, increased prices... Seems double that (.24) seem to be a good deal... at least there is more clear direction about the possible trend...
Can you afford to take that chance?
CHEETAH LIVE TE Return This Year: na
support holding for the moment. its struggling so much to break, it feels like a big bounce is coming
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