If the WTI breaks the $34 psychological barrier we will see Oil in the low $20's in no time.. If not, then it's clear that we'r going straight to the 50's. the feb/mar spread drops $2 last friday. (probably due to the rollover) Cause the Mar/Apr Spread gain over $3 bucks at the same time. Im Long some Crack spreads since January 3 (RBOB Crack, Heat Crack and 3-2-1 CRack). I will start buying some refineries like VLO and shell and exxon. Im also Short the Brent/WTI spread, this spread is to abnormal right now and this eventually will be reflected at the EIA reports soon, and the WTI is fighting very well the magic number ($35) over the last 4-5 weeks. My Cracks peformance are OK right now, BUT I Took a BIG hit last week with the Natgas/WTI spread.
=============== Yes she is right,DR; BP & Phillips ............................................................................. extract it.Most of Prudhoe Bay field is on land,largest field in North America. Not a stock tip ,but BPT [BP Prudhoe Bay Royalty Trust ]is in IBD top 100 ,JAN,2009