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16.0¢ universal coal plc

Yes it's natural gas that's relevant for steaming...

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30/03/20

08:20

Post #: 43766803
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Originally posted by skoonzy: ↑

There is also one of the biggest demand/supply shocks I've ever seen in the oil industry at the moment.

Come 1st of April there's potentially up to 25 million barrels a day (25% of global demand) oversupply of oil and the world is rapidly running out of places to put that oil. The on-shore storage tanks are filling up rapidly and many in the industry are trying to load the excess oil onto super tankers. If demand doesn't snap back I think there's going to be a lot of bankruptcies in the oil industry.

I think that could also benefit coal in the medium term if oil rigs counts are reduced and natural gas supplies are curtailed.

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Yes it's natural gas that's relevant for steaming coal.

Metallurgical coal prices won't recover until steel production does.

UNV Price at posting: 14.5¢ Sentiment: Buy Disclosure: Held
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