Yesterday I have taken a buy call in crude oil at 3890 and exited from the call 10:10 pm at 3957 Total Profit: 67
Today I have taken a buy call in crude oil at 3716 and exited from the call 03:30 pm at 3770 Total Profit: 54
There are two things to consider here - issues in the middle east impacting oil supply and the chance the worldwide economy will slwodown. Which pull is the strongest, the supply issue pushing the price higher or the reduced demand leading to a fall in the price?
Is crude oil set for a rally amidst concerns about recession? Gold is already responding to the threat of recession.
I'm sure most have heard the news that ARAMCO is going public in Dececember. Unfortunately it will be listed on the Saudi stock market. While oil would have been a better buy 10 years ago, it only costs ARAMCO $2.00 to produce one barrel of oil. This might be an interesting opportunity if average Joe investors are allowed to purchase this stock.
The price of crude has collapsed even though OPEC is currently trying to reduce production to manipulate the price higher. Seems to me that the power of OPEC has been reduced somewhat in recent years and members are now keener to ramp up supply so they can fill their own coffers.
It looks as though the OPEC "gang" have got back together to try and manipulate the oil price after its dramatic fall. Probably time to buy again but this stinks - the recovery is manufactured.
Looks to me like it could be time ro ride the crude oil recovery wave - OPEC seem intent on limiting supply to push the price back up, holding the world to ransom?
Another fiddle form OPEC - looking after themselves again. Oil is a dying commodity and one which seems to be corrupt from the outside looking in. It is never left to natural trends - the oil producers always have the final say, when they can agree that is!
