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crude oil now below $42.oo!!, page-2

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DSD

15,757 Posts.

17/08/15

13:24

Post #: 15819434

Originally posted by DSD ↑

I never thought i would see the day when oil dropped below USD42. Yes it's WTI which is not top grade and is usually $4-5 below Brent.... but WTI has just broken the $42 level. Question is... can crude recover and get back above say $60? Def not impossible, but my estimation is for WTI to stay in $40-55 range with Brent in $45-60 range for next 6-18months.

Oil at a 6 yr low. Ignore the short lived spike down in 2009 and its at a 11 yr low. World has 1 BILLION more people since then yet oil has dropped 60% in 13 months. Incredible.

But I'm far more bearish re ever seeing a recovery in LNG price as supply for next 5yrs is set to massively exceed demand. Here in Oz alone we will add 30million tons/annum over the next 3-12months. When Gorgon/Wheatstone reach full production it will be far higher. Cannot see LNG price recovering and expect it to continue falling. Avoid.

Expand

Brent now just above $50 mark.

Energies
Main ViewTechnical Performance Custom View

Name Contract Last Change Open High Low Time Links

1 Crude Oil WTI CLU15 (Sep '15) 41.90 -0.60 42.18 42.24 41.83 22:10

2 ULSD NY Harbor HOU15 (Sep '15) 1.5457 -0.0122 1.5497 1.5512 1.5457 22:04

3 Gasoline RBOB RBV15 (Oct '15) 1.4956 -0.0099 1.5055 1.5089 1.4910 21:20

4 Natural Gas NGU15 (Sep '15) 2.777 -0.024 2.774 2.777 2.765 21:54

5 Crude Oil Brent (F) QAZ15 (Dec '15) 50.30 -0.61 50.33 50.33 50.25 21:34

	Name	Contract	Last	Change	Open	High	Low	Time
1	Crude Oil WTI	CLU15 (Sep '15)	41.90	-0.60	42.18	42.24	41.83	22:10
2	ULSD NY Harbor	HOU15 (Sep '15)	1.5457	-0.0122	1.5497	1.5512	1.5457	22:04
3	Gasoline RBOB	RBV15 (Oct '15)	1.4956	-0.0099	1.5055	1.5089	1.4910	21:20
4	Natural Gas	NGU15 (Sep '15)	2.777	-0.024	2.774	2.777	2.765	21:54
5	Crude Oil Brent (F)	QAZ15 (Dec '15)	50.30	-0.61	50.33	50.33	50.25	21:34

OSH Price at posting: $6.56 Sentiment: Sell Disclosure: Held

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