Hey whats going on with the oil prices around the world. One day they are close to $73 /barrel and next day they are down to $67.50.BUT strangely these numbers are up about 120% on the lows of $31 /barrel in February 2009. Obviously the retracing cycle has started upwards again.
Chinese Mega oil company has just bought out an OIL company in Africa for a record US$7.2 billion dollars. Chinese steel producers appear to be now returning to much higher demand and production levels. Oil and gas hikes in INDIA also signal that demand on these is significantly increasing. Some interesting signs from around Asia that they definately are moving out of at least stagnation and back to more confidence in the economical and production phases of their economies. Even Japan has been muttering that things now are looking much more brighter with their economy.
Definately looks like a new wave of energy demands happening so soon. I hope that by then CTP will be suppling some of these requirements. We will definately know the possibility of this by November hopefully.
CTP Price at posting:
7.5¢ Sentiment: Buy Disclosure: Held
