Looking at the volume of shipping stocks today and the move of some miners (iron ore) I'd say explosion.
You do understand that our Bakken crude sells for $13-$14 less than west Texas price.... Today with WT @ 50, ND sweet is at $36... The only $25/bbll break even up here in the bakken is a small area between Stanley and New Town. The players outside of this smaller hotspot have lost their ass.... Hell even Whiting has, and they had good leases. The ND Rig count has went from 98 to 41 in 6 months... I would know, I'm a laid off driller.
Those energy reports like all other reports do not give an indication of future price direction otherwise we will all be winners.
Explosion. Look at this week's cover, magazines are famously wrong when it comes to thematic items. Anyway each to their own, and happy trading guys !!! https://www.newsweekeurope.com/magazine/ http://www.anderson.ucla.edu/Documents/areas/fac/finance/super_ceo.pdf Cygnus Atratus
I am surprised that gold is continuously trading down, yet short term LIBOR and yield of Eurodollar lower. I have to agree with OP, that OIL have to move either way up or down, stay at current level just building up too much suspense.
Never said those links could predict future price of oil that's just stupid. It's just info/food for thought to try to formulate your own choice and decision on. A question to everyone: Here's the big question, if China and India are growing and may not be as environmental conscious as the US is now, albeit it's going green based on desperate domestic times, where does that leave the price of oil? Does oil fall off the map? and 3 billion people in India and China start driving corn-powered Toyatas? I don't think so. You just need an additional 20% roughly of the population to China to start driving oil cars regularly and they have picked up the US oil consumption portion. And from all accounts from the Middle East, they have actually stopped or slowed down oil production because of simple lack of demand and it's becoming too costly. US may go Environmentally Friendly, trade there nukes for solar powered/enthanol powered vehicles? But will the rest of the world follow suit? Again I highly doubt it. All that being said, can oil stay below $50 for the long-term?