I wouldn't bet against oil momentum continuing. Longs now well outnumber shorts, US rig numbers have plummeted, Iran will struggle at least for a while to fill the US production gap, last week saw a draw-down at Cushing for the first time in ages, and exploration cuts brings field depletion slowly into play. The price might bounce around a bit, but momentum is in one direction. I'll sit on today's 10 per cent rather than take a trading punt.
(Get ready to throw that back at me tomorrow. Would be entirely apt for the thread title.)
While we're on the coal gas subject, there is a junior explorer sitting on a massive reserve nearing commercial flows. Who knows, might Strike it rich there, too.
OOO
A day early.., page-23
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