Today's estimates: cl.+1.5 rb.-2.8 dist.+900k These are not MY estimates, from the floor. I am leaning to a larger draw in RBOB.
Crude -0.1, dist unchg, gasoline -1.2 What a boring figures day! It's all about Gustav at the mo isn't it!
Very boring #'s indeed. Am a little concerned about a jump in refining, feel this may weigh on the products markets over the coming weeks. All I want is some good quality, high priced crack!
What the fuk is going on with oil???!! Yesterday they just get a reminder that there is a hurricane, and oil rockets up $5s!! But then today when we get an under supply number in inventories we barely get a 50cents rise, and then it falls over $1!!! WHat the hell is going on??? :eek:
Probably people trading the markers in London that just caused that drop leading up to 4.30pm London time. Think the market is still bullish in the immediate short term.
Oh.. Um at the risk of sounding very stupid.., how exactly does the end of traidng day when traders 'close-out' positions actually affect the price?? (its cos i use an sb firm not broker, so its alot more simple) lol Is it basically all teh people who had bought, cashed in for the day by selling, so price falls..?
I thought i saw 119.56 average peak for the day, but im not sure we will get that now. And oil rising for a 4th day in a row overnight its quite a stretch maybe... :/ I gna hold out my longs though
Ahhhh i found the culprit!! Its that ******* gbp weaking in big sharp drops against the usd since lunchtime!!