%% There is another possibility , NOT saying any should try this @ home and anywhere. I was buying gasoline@ BP oil + gas station, they sell lottery tickets also. So i asked the lottery ticket buyer guy, in front of me''ever won anything in the lottery??'' He said, perhaps unusual for a gambler to tell the truth ''NO but i got close'' LOL-LOL
With the Qatari embargo by Egypt, Bahrain, Saudi Arabia and the like, not to mention that Egypt can put a stop to Qatari LNG travelling through the Suez Canal, this could be an opportunity to be negative against LNG, should Egypt decide to tighten its grasp upon the Suez. DHT Holdings owns the only tankers still taking on cargoes in Qatar, Saudi Arabia, and the UAE http://www.dhtankers.com/index.php?name=Stock_Information/Stock_Chart.html
The chart shows the reason behind the ascension of Saudi Crown Prince Mohammed Bin Salman as oil price looks lower for longer. (via BBG) "https://t.co/R9GJN9lnAS"
May suggest crude bounces soon, Death Cross & all"https://t.co/7cMF11pjYD" Abigail Doolittle (@TheChartress)
%% Mr/Prince Mo Bin Salman has a fun job; as oil -price gets lower-- they can pump more black gold + still rake off a nice profit LOL Its an Arabian advantage== a low cost producer..........................................................................................................
%% I also like the way Mr Prince Mo Ben Salman[ family] told General ''stormin'' Normin'' come in, operation desert storm........
Here's a quote from that article. "If technicals were to break the trend of higher lows, this would likely trigger a significant selloff. But with product inventories recently falling by the most in more than a decade, very wide gasoline crack spreads, OPEC supply cuts likely to continue, and expansions in global demand, it is difficult to imagine how oil prices could collapse immediately ahead of the summer driving season..." And here we are, immediately ahead of the summer driving season. Nymex WTI just passed below $43 per bbl today? Hmm.
Apparently you don't look at the cracks because they have been crushed. Both heating oil and gasoline cracks. The refiners are the marginal buyer of crude and with crack spreads decimated, they are not going to buy.