Depends on whether you see oil or LNG prices rising or falling. I'm a bull on higher oil in the near term. I think that less 1.5 million bbls a day places the market in a tight spot in that any geopolitical conflict in the Middle East could send prices soaring. As for shale oil yes trump could potentially unlock more areas for drilling which could negatively impact oil. Conversely Trump could place sanctions on Iran which will cause prices to soar. Then there is Nigeria and Libya who could produce at record rates or end up in another conflict. There are also potential hotspots in the South China Sea and risks of trade war between China and US. Any trade war between US and China could result in WTI collapsing but suspect Brent will rally. There are no easy answers the oil market is complex and inelastic a small increase in supply sends prices plummeting and a small decrease sends prices skyrocketing. Just cross your fingers and pick a direction.
ORG Short Term Trading, page-2
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Last
$10.06 |
Change
-0.020(0.20%) |
Mkt cap ! $17.33B | |||
| Open | High | Low | Value | Volume |
| $10.11 | $10.18 | $10.06 | $38.08M | 3.771M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 32222 | $10.05 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.06 | 66379 | 2 |
View Market Depth
| Last trade - 16.10pm 17/06/2024 (20 minute delay) ? |
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Last
$10.08 |
Change
-0.020 ( 0.15 %) |
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| Open | High | Low | Volume | ||
| $10.11 | $10.18 | $10.08 | 2885228 | ||
| Last updated 15.59pm 17/06/2024 ? | |||||
| ORG (ASX) Chart |
