FDM freedom oil and gas ltd

price of oil

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    What happened overnight in the US?

    Clipped from Rigzone Commodity Corner....

    "Oil futures snapped a six-session losing streak Monday, lifted by brisk gains in the equity markets and signs that Greece's departure from the euro zone appears less likely.

    Light, sweet crude for June delivery settled $1.09, or 1.2%, higher, at $92.57 a barrel on the New York Mercantile Exchange. Brent crude on the ICE futures exchange settled $1.67, or 1.6%, higher, at $108.81 a barrel."
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    "Monday's gains marked a rare bounce for oil futures, which have fallen 12% in May on the back of an array of bearish macroeconomic developments. In recent weeks, political turmoil in Greece has raised fears that the country could soon exit the euro zone, which analysts fear would touch off a broader crisis that puts the currency union in jeopardy, ultimately curbing economic growth and oil demand.

    Meanwhile, the recent thaw in tensions with Iran has also fed the sell-off. On Wednesday, Tehran is set to meet in Baghdad with delegations from the five permanent members of the United Nations Security Council, plus Germany, to continue discussions over its nuclear program."
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    "The European Union is set to fully implement an oil embargo on Iran starting July 1. If Iran backs down from its nuclear program and the E.U. scales back or calls off its embargo, prices likely have further to fall.

    "If the talks with Iran go well, there's a possibility prices could continue their downtrend," Flynn said."

    END Clips


    So based on action in my US stocks - probably looking at 6% to 10% gain today for MAD.

    Now you have to begin to think about, if you're a trader or want to lock in profits, at what point to exit prior to July 1 if there is no embargo as prices drop OR stay in as there will be an embargo and prices climb (regardless of Greece).

    GLTA

 
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