the price of oil fell due to supply/demand being misaligned. Same as any other product...
STO say they are profitable at fx 0.80 and oil @ US$50. Both of these are well short of being 'in the money' at the moment, so people will sell.
Many are looking at STO and saying have locked in contracts for 90+% of capacity - but don't seem to recall that the locked in price is dependent on oil prices. Nothing in the contract states that the prices have to be profitable.
board has to go, page-4
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Last
$7.89 |
Change
-0.030(0.38%) |
Mkt cap ! $25.62B | |||
| Open | High | Low | Value | Volume |
| $7.87 | $7.94 | $7.86 | $44.13M | 5.590M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 25085 | $7.88 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.89 | 39733 | 1 |
View Market Depth
| Last trade - 16.10pm 10/07/2024 (20 minute delay) ? |
| STO (ASX) Chart |