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+--- Thread: VBIN's oil stock thread. (/showthread.php?tid=1938)
RE: VBIN's oil stock thread. - EricL - 06-15-2021
WTI broke the $72 level.
New 52-week high for XOM.
VBIN's oil stock thread. - vbin - 06-15-2021
I still have xle, oxy, Wes.
RE: VBIN's oil stock thread. - fenders53 - 06-15-2021
Never made so much money in oil before I came here arguing with you guys.
RE: VBIN's oil stock thread. - ken-do-nim - 06-15-2021
(06-15-2021, 01:26 PM)EricL Wrote: WTI broke the $72 level.
New 52-week high for XOM.
Oooh I better check and see how ERX is doing then! (Energy Bull 2x etf)
RE: VBIN's oil stock thread. - EricL - 06-16-2021
What a Difference a Year Makes (in Oil)
Quote:Exactly one year after West Texas Intermediate crude reached its historic -$37 per barrel low, the damage inflicted on global oil markets from the COVID-19 economic lockdowns has been largely repaired. Inventories have drawn down at the fastest rate on record and in a mere 12 months nearly all excess crude inventories have been eliminated. Prices for Brent and WTI recently topped $70 per barrel. Exploration and production equities (as measured by the XOP) have led the broad market higher, advancing 170% since the beginning of April 2020.
Continue reading.
RE: VBIN's oil stock thread. - fenders53 - 06-16-2021
That was a good article. It's been an amazingly volatile year until a few months ago. Oil is in a slow chug upwards trend for now. It looks safe until at least fall. Give it less than a year and they'll be saying it is going to crash the world economy if it doesn't dip.
RE: VBIN's oil stock thread. - EricL - 06-21-2021
WTI hits $73
Last week's dip below $70 sure didn't last long...
RE: VBIN's oil stock thread. - fenders53 - 06-21-2021
(06-21-2021, 01:47 PM)EricL Wrote: WTI hits $73
Last week's dip below $70 sure didn't last long...
I didn't take that one too seriously. I sold new XLE puts Friday. There will be a point where I get a little nervous about oil pulling back, but mid June at $70 oil sure isn't it.
I am never going to understand gasoline prices though. The station I buy from has literally not moved their price one penny for six weeks. Oil has not been THAT stable. I guess the distributors did a good job of predicting local demand?
RE: VBIN's oil stock thread. - EricL - 06-21-2021
(06-21-2021, 02:16 PM)fenders53 Wrote:(06-21-2021, 01:47 PM)EricL Wrote: WTI hits $73
Last week's dip below $70 sure didn't last long...
I didn't take that one too seriously. I sold new XLE puts Friday. There will be a point where I get a little nervous about oil pulling back, but mid June at $70 oil sure isn't it.
I am never going to understand gasoline prices though. The station I buy from has literally not moved their price one penny for six weeks. Oil has not been THAT stable. I guess the distributors did a good job of predicting local demand?
Been $2.89 at my local station for weeks as well. /shrug
RE: VBIN's oil stock thread. - fenders53 - 06-21-2021
(06-21-2021, 02:34 PM)EricL Wrote:It's not a terrible thing IMO. There is going to be a lot of vacation travel but greed kills commodities every time. I wondered when it would come but I am finally seeing it at work. Customers are like "yeah, no on that garage or deck I had planned.... I'll take one sheet of that outrageously priced plywood and a couple 2x4s. I'll just fix a couple things to stay busy for now." You can only get by with so much before some sanity is restored.(06-21-2021, 02:16 PM)fenders53 Wrote:(06-21-2021, 01:47 PM)EricL Wrote: WTI hits $73
Last week's dip below $70 sure didn't last long...
I didn't take that one too seriously. I sold new XLE puts Friday. There will be a point where I get a little nervous about oil pulling back, but mid June at $70 oil sure isn't it.
I am never going to understand gasoline prices though. The station I buy from has literally not moved their price one penny for six weeks. Oil has not been THAT stable. I guess the distributors did a good job of predicting local demand?
Been $2.89 at my local station for weeks as well. /shrug
Gasoline prices are in their happy place now IMO. It has zero affect on my travel plans, and oil companies are going to be fine.
VBIN's oil stock thread. - vbin - 06-21-2021
Gasoline approching $5 in bay area. The whole travel thingy still haven't opened. We aren't back to normal. If we don't see another wave, gasoline headed to $85 at this pace.
RE: VBIN's oil stock thread. - EricL - 06-21-2021
I'd say we are about 95% back to normal in South Dakota. Hardly any masks to be seen, roads are busy, and the case counts are near zero.