Armageddon has not happened yet. Not that I can see.
I believe that higher prices are being levied on Asian buyers.
Credit Suisse screen jockies are busy examining the entrails of their models.
"
Oil, however, was a big story for markets this week with West Texas intermediate futures jumping more than 9 percent, and that could spill into Wednesday trading.
West Texas intermediate futures for May delivery rose 3.5 percent to $53.98 per barrel Tuesday. Crude could stay volatile Wednesday, as traders await the Energy Information Administration's U.S. oil and gas inventory report at 10:30 a.m. ET. Speculation has been building that low prices are finally catching up to U.S. producers, impacting the amount of oil going into storage.
"The rate of increase is slowing. We're still going to have, like, a four-million barrel build tomorrow," said John Kilduff of Again Capital. Oil has been moving higher as traders expect less oil to move to storage in Cushing, Oklahoma, the physical hub for Nymex crude oil futures."
POO not in the poo, page-8
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Last
$6.80 |
Change
0.160(2.41%) |
Mkt cap ! $22.08B | |||
| Open | High | Low | Value | Volume |
| $6.71 | $6.81 | $6.70 | $49.48M | 7.310M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 85028 | $6.76 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.81 | 85650 | 9 |
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| Last trade - 16.10pm 07/11/2024 (20 minute delay) ? |
| STO (ASX) Chart |