Guys, the spot prices for Oil is trading at less than US$8 per barrel. I had to ring US and find out. Don't be fooled by that $20 price tag return on crude anytime soon. Future's price tend to exchange at spot prices during last hours of expiration. The only way to save Crude prices is too find innovative way to store oil. Perhaps swimming pool of underground tanks, I really don't know, but prices to stay at US$ 20 is quite risky to trade long for me. At least right now.
Another possibility is production cuts, which also means CAPEX cuts. This is still bad.
No idea what Woodside will do but brokers are peddling buy based on dividend yield. They don't understand fixed or variable costs fully.
Guys, the spot prices for Oil is trading at less than US$8 per...
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Last
$28.84 |
Change
0.000(0.00%) |
Mkt cap ! $54.75B | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | $28.93 | $28.73 | $2.954M | 103.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 443 | $30.71 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $27.40 | 4178 | 9 |
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| Last trade - 09.58am 12/07/2024 (20 minute delay) ? |
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