The collapse of oil price was coincident with the Russian Sanction in 2014. Then, there was a conspiracy of Obama’s the-tone-four-birds strategy: A collapse of oil price will kill the two states that he hated most (Rus and so-called IS), and also the project that he hated most (the Kenstone Pipeline).
Not many people believe the conspiracy. In the last two days, oil price dropped respectively 4% and 2%, for reasons such as doubts on OPEC agreement and rise of rig count (by THREE over the week in US). Do you believe them?
The sharp drop in oil price was actually coincident with the sale of 8 million barrels of strategic oil reserve. The reported reason for the sale was to collect money ($400m, of course for Trump) to repair the pipelines. For me, the reason does not make much sense and the action was probably to enhance Obama’s policy on Russian, like other actions in recent weeks.
If the conspiracy is true, the end of Obama administration means the end of low price oil and that any dip is a buying opportunity.
BTW, anyone has an evaluation of STO with oil price at 65-70 in 2017?
End of one-stone-three-birds conspiracy
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Last
$7.72 |
Change
-0.030(0.39%) |
Mkt cap ! $25.07B | |||
| Open | High | Low | Value | Volume |
| $7.74 | $7.75 | $7.67 | $40.76M | 5.287M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 8117 | $7.71 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.72 | 21387 | 1 |
View Market Depth
| Last trade - 16.10pm 26/04/2024 (20 minute delay) ? |
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Last
$7.71 |
Change
-0.030 ( 0.44 %) |
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| Open | High | Low | Volume | ||
| $7.73 | $7.75 | $7.67 | 1106822 | ||
| Last updated 15.59pm 26/04/2024 ? | |||||
| STO (ASX) Chart |