Oil Tanks

[errolanderson]

OIL TANKS: Despite Ukraine tensions, global oil prices are under pressure. Some say U.S. fracking could explode as profitability goes through the roof. Some say Iranian’s added daily production is pressuring. Or simply a slowing global economy. Regardless, this situation shows the vulnerability of oil prices to a selloff once geo-political tensions subside. OIL PRICES APPEAR VULNERABLE TO-A-SELLDOWN. WTI has key support @ $80 per barrel. Major support @ $70 per barrel. ProMarket Wire, Calgary

[Guest]

sure hope you're right

[Hamloc]

OIL TANKS: Despite Ukraine tensions, global oil prices are under pressure. Some say U.S. fracking could explode as profitability goes through the roof. Some say Iranian’s added daily production is pressuring. Or simply a slowing global economy. Regardless, this situation shows the vulnerability of oil prices to a selloff once geo-political tensions subside. OIL PRICES APPEAR VULNERABLE TO-A-SELLDOWN. WTI has key support @ $80 per barrel. Major support @ $70 per barrel. ProMarket Wire, Calgary

So are you predicting it will drop to $80 a barrel in the near future? Oil is off just over 2% today and so far Henry Hub natural gas is up over 3%, looks to me like energy costs aren’t getting cheaper anytime soon! WTI Oil is still over $89 a barrel.

[errolanderson]

So are you predicting it will drop to $80 a barrel in the near future? Oil is off just over 2% today and so far Henry Hub natural gas is up over 3%, looks to me like energy costs aren’t getting cheaper anytime soon! WTI Oil is still over $89 a barrel.

In my view oil will eventually break $80 per barrel once again. Major support is actually around $64 per barrel if the market becomes oversupplied and demand fades. But uncertainty of Russia is in the forefront.
Technically, a breakdown today . . . .

Even if oil does briefly surge above $100, it won't hold. Fracking profits galore. U.S. can easily oversupply again and reduce their buying needs. And if the stock market tubes, well that's game over as well. My two-bits . . . .

It wasn't long ago, WTI was $20 per barrel, even lower . . . . -$37 per barrel was the collapse.

[errolanderson]

Technical ‘death cross’ just crystallized on the NASDAQ . . . equities warning.

[Guest]

Oh OK, the dreaded death cross. What do you think of the woman that got trampled????

[TOM4CWB]

Oh OK, the dreaded death cross. What do you think of the woman that got trampled????

International Sanctions should be applied against Canada globally... until Trudeau stops his war against peacefully demonstrating Canadians.

Illegal War is war.

[Guest]

Beyond profits there is human and environmental health

[Old Cowzilla]

Twice as many drilling rigs working in USA as compared to a year ago so I have been told. Always the most productive fire up first.

[errolanderson]

Oh OK, the dreaded death cross. What do you think of the woman that got trampled????

For those who care, a technical death cross is when the 50-day moving average breaks below below the 200 moving average price. Indicates a powerful selling down-wave in-progress . . . .

How’s the woman doing Astro????