Whose terrified Baron? All oilers have headed South following the poo which has stabilised now for some time.
The clouded environment atm in regards oilers is creating an easy environment for shorting and that cannot be combated without activity to turn around sentiment.
IF you were talking about STO or ORG then you'd be 100% correct but BPT is not there - once the market wakes up to the reality that the poo has stabilised but that the aussie looks set to fall further against the USD then a few quick calcs can show whose making or losing what.
The aussie economy is faltering and we look set for interest rate cuts again which will tank the AUD which could go as low as 60c then the Fed looks set to raise rates which will almost guarantee the AUD to come down to the low 60's - with the Brent poo stabilised around $48USD:
Brent - $48USD - today = $68AUD
Brent - $48USD - 65cAUD = $73AUD
Brent - $48USD - 60cAUD = $78AUD
The POO may move higher towards the end of the year as well to possibly in the low 50's
My current calcs for aussie oilers is working out how they fair with a current return of $70 a barrel - I don't take notice of hedging as I'm personally interested in the longer term.
Given your an accountant how does BPT fair with $70 a barrel?
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