I think we'll be looking at $100 oil again in 12-18 months. The Saudis are a greedy lot. The past few days looked like a classic short squeeze at month end, leading into a new month. A major repositioning if you will with some profit-taking on otherwise under-par economic data. $70-$80 is actually WPL's sweet spot based on past reports, as they sold more because of higher demand. Not sure if it still holds true. However when 90% of the market is calling for $140 or $200 oil, I like to be on the other side of that trade. Same goes when they are calling for $10, $20 or $30. Timing the permanent bounce is never easy.
I think we'll be looking at $100 oil again in 12-18 months. The...
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Last
$29.21 |
Change
-0.310(1.05%) |
Mkt cap ! $55.46B | |||
| Open | High | Low | Value | Volume |
| $29.14 | $29.32 | $29.05 | $121.9M | 4.181M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5709 | $29.20 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $29.21 | 14331 | 2 |
View Market Depth
| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| WDS (ASX) Chart |