@CbrMaroon
It goes up, it goes down, that's Mr. Market for you. $40 is not far fetch if oil prices rise. Will it rise? I think it hinges on China's economy during the second half of 2022. If there are endless lockdowns then prices will likely stabilize or drop further. If however, China decides that this is more harmful to their economy and changes policy or imposes a less restrictive one then you will see demand ramp up again and this will easily push oil prices back to the $120 level.
Natural gas however will continue to rise. This is because the EU has mandated 80% minimum storage capacity levels before winter hits. I think currently they are at 50%. Russia however knows this strategy and has already reduced the gas flow to Europe to prevent this. The shortfall will therefore drive LNG prices up both in the Europe and Asia markets (expect to see this end of the 3rd quarter of 2022 or 4th quarter). Russia will do this to make sure that they have leverage and can apply pressure on Europe in winter and force concessions with regards to Ukraine territories. Either way, in the near future, I expect oil prices to remain at this level or rise higher.
Also to note is that US strategic oil reserves that they released will need to be bought back in the near future. This will again help ensure that oil price dynamics remain tight and high. If you hold WDS shares, expect good dividends in the near future
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@CbrMaroonIt goes up, it goes down, that's Mr. Market for you....
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Last
$27.81 |
Change
-0.180(0.64%) |
Mkt cap ! $52.84B |
Open | High | Low | Value | Volume |
$28.03 | $28.09 | $27.78 | $46.52M | 1.669M |
Buyers (Bids)
No. | Vol. | Price($) |
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26 | 7887 | $27.80 |
Sellers (Offers)
Price($) | Vol. | No. |
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$27.82 | 6360 | 28 |
View Market Depth
No. | Vol. | Price($) |
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30 | 12561 | 27.820 |
15 | 7817 | 27.810 |
22 | 14368 | 27.800 |
11 | 9272 | 27.790 |
12 | 8089 | 27.780 |
Price($) | Vol. | No. |
---|---|---|
27.840 | 6489 | 22 |
27.850 | 7069 | 14 |
27.860 | 5750 | 9 |
27.870 | 5460 | 19 |
27.880 | 4904 | 11 |
Last trade - 14.38pm 22/05/2024 (20 minute delay) ? |
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Last
$27.79 |
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Change
-0.180 ( 0.77 %) |
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Open | High | Low | Volume | ||
$28.02 | $28.08 | $27.78 | 268533 | ||
Last updated 14.58pm 22/05/2024 ? |
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