bhp settles iron ore price with baosteel , page-3

Good morning everyone,
I take a few days off and you let the bears out! Lol.

An eclectic array of posts in my absence, with no consensus of where BHP is heading.

The daily chart still looks sick, and that is one big, yawning chasm of a gap. Last seen on the March low, and January lower. Both times it was quickly filled.

Will it this time?

I believe we are at the mercy of global market sentiment, and the price will be moved in the direction of that sentiment.

Fundamentals haven't changed, and will keep the SP bouyant over the medium- long term, but will mean very little -if anything -- short term.

Here's some good news:

NEW YORK, July 6 (Reuters) - BHP Billiton a resources and oil exploration company, said on Sunday that it and its partners have begun oil and gas production from their Neptune development in the deep water of the Gulf of Mexico.

Neptune, located about 120 miles off the coast of Louisiana, is a standalone deepwater production platform in the Gulf of Mexico. The company said the operation is designed to handle up to 50,000 barrels of oil per day and 50 million cubic feet per day of natural gas.

The company has a 35 percent stake in the project. BHP Billiton's partners in the project include Marathon Oil Corp (MRO.N: Quote, Profile, Research), which has a 30 percent stake, Woodside Energy (USA) Inc with a 20 percent stake, and Maxus Exploration Company with 15 percent. (Reporting by Phil Wahba; Editing by Leslie Adler)