Are you referring to me as the "same people"? I have explained and even linked articles as to why oil will remain capped for the short term. Have you seen photo's of dozens of oil tankers sitting at anchor with nowhere to offload their product? Storing oil in that manner is very expensive and those costs add up every additional day you store that oil. Trader's will look at offloading the second it reaches their price target. There was a massive excess of oil produced for the last few months. That overhang has to be drawn down.
Prices have gone up due to production constraints whether through OPEC or well shut-ins combined with increasing demand due to lock downs easing. I have seen the traffic increases in my local area.
As I said in my comment BPT doesn't seem to follow the trend of oil but the broader market. There are some divergences especially around the price war in February/March but generally it looks pretty bang on to me.
So I posed the question. Are you bullish or bearish about the market? Is it reasonably priced, undervalued or overvalued?
I have my belief's in that regard and have hedged accordingly. If I am right I have alot of upside but if I am wrong my downside is non existent in terms of paper loss.
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Last
$1.72 |
Change
0.005(0.29%) |
Mkt cap ! $3.912B |
Open | High | Low | Value | Volume |
$1.72 | $1.73 | $1.69 | $13.58M | 7.943M |
Buyers (Bids)
No. | Vol. | Price($) |
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6 | 220395 | $1.72 |
Sellers (Offers)
Price($) | Vol. | No. |
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$1.72 | 9529 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 98374 | 1.715 |
4 | 77537 | 1.710 |
5 | 125294 | 1.705 |
2 | 58501 | 1.700 |
4 | 97184 | 1.695 |
Price($) | Vol. | No. |
---|---|---|
1.730 | 59027 | 8 |
1.735 | 158454 | 6 |
1.740 | 152403 | 8 |
1.745 | 30388 | 3 |
1.750 | 59339 | 8 |
Last trade - 16.10pm 21/05/2024 (20 minute delay) ? |
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Last
$1.72 |
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Change
0.005 ( 0.81 %) |
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Open | High | Low | Volume | ||
$1.72 | $1.73 | $1.69 | 1909084 | ||
Last updated 15.59pm 21/05/2024 ? |
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