I think a lot of speculative futures positions have yet to unwind in oil. Fundamental valuations on supply/demand would put the price around 80 - 100/bbl, so it has a way to go yet.
As for US inventories I think they have now ordered stockpiles to not be replenished at times of high oil price. So they will reduce the use of strategic reserves to compensate local consumers. I think this is why U.S. locals have been feeling the rise of price of petrol lately, more than usual.
Anyway, GWB has solved the problem by allowing drilling offshore all around coast of US... ha what a dill.
Yes I think it will turn around, but I am amazed at the cvn holders hitting the sell trigger for the last few weeks.
Oil producers are probably the only decent hedge at present with the usual safe havens being mauled thanks to USA sub prime fiasco. This has the makings of a 1000 enrons, and there should/will be court cases for the ceo's and directors of the lending and financial insto's that have created this loss of worldwide wealth.
cheers
steve
- Forums
- ASX - By Stock
- CVN
- panic stations
panic stations, page-14
-
-
- There are more pages in this discussion • 5 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add CVN (ASX) to my watchlist
(20min delay)
|
|||||
Last
19.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $348.8M |
Open | High | Low | Value | Volume |
19.5¢ | 20.0¢ | 19.5¢ | $80.01K | 402.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
20 | 1576649 | 19.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
20.0¢ | 319098 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
19 | 1496649 | 0.195 |
19 | 1292005 | 0.190 |
16 | 2255955 | 0.185 |
7 | 791672 | 0.180 |
6 | 382022 | 0.175 |
Price($) | Vol. | No. |
---|---|---|
0.200 | 125324 | 4 |
0.205 | 720721 | 11 |
0.210 | 565036 | 13 |
0.215 | 231747 | 6 |
0.220 | 930392 | 18 |
Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
Featured News
CVN (ASX) Chart |