Oil $47.18US in early trade, page-56

What I fail to understand is punters willingness to buy in a solid downtrend.
Oil is still trending lower....... is this not a glaring sign not to buy.
Jeez look at what happened to the gold stocks last year and don't forget this happened on no real fundamental change..... just pure speculation on the gold sector.
A quick read over those threads, RSG,BDR,TRY,EVN and the like and you will see punters consistently mention, good value and great buying opportunity at levels that are now 100-200% above where they are trading.
In the case of STO the fundamentals are deteriorating at a great rate of knots and they are inline at current levels of oil for another downgrade.
One must fully understand the macro environment of oil and what has led to these rapid declines.
Most will understand that oil is being used as a weapon of massive wealth destruction for Russia and to close world wide over production for the long term.
This can not be achieved until all the current funding and cash has been burnt off the balance sheets so will take some time to achieve.
If it was a case of simple supply versus demand you would not see such a rapid sell off.