(03-08-2022, 11:45 PM)vbin Wrote:

(03-08-2022, 09:44 AM)EricL Wrote: The U.S. to announce a ban on Russian energy imports, crude over $125.



New England is going to suffer big-time as they are cut off from the rest of the US due to Jones Act rules on oil shipping and lack of pipeline capacity.

Did not knew about this. Where did you find the his info Eric?

(03-09-2022, 09:09 AM)stockguru Wrote: I think the run is over. All these oil stocks were way over bought. The time to get in them was weeks or months ago. Buying the past few days was just asking for trouble. Hope Eric took his profits ?

Same with LMT and NOC.  Those ran up way too fast as well and the last few days have made the top shorted list.

Quote:EIA

Summary of Weekly Petroleum Data for the week ending March 4, 2022

U.S. crude oil refinery inputs averaged 15.4 million barrels per day during the week ending March 4, 2022 which was 21,000 barrels per day less than the previous week’s average.Refineries operated at 89.3% of their operable capacity last week. Gasoline production increased last week, averaging 9.6 million barrels per day. Distillate fuel production decreased last week,averaging 4.6 million barrels per day. 

U.S. crude oil imports averaged 6.3 million barrels per day last week, increased by 0.6 million barrels per day from the previous week. Over the past four weeks, crude oil imports averaged about 6.2 million barrels per day, 10.1% more than the same four-week period last year. Total motor gasoline imports (including both finished gasoline and gasoline blending components) last week averaged 760,000 barrels per day, and distillate fuel imports averaged 274,000 barrels per day.

U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 1.9 million barrels from the previous week. At 411.6 million barrels, U.S. crude oil inventories are about 13% below the five year average for this time of year. Total motor gasoline inventories decreased by 1.4 million barrels last week and are about 1% above the five year average for this time of year. Finished gasoline inventories increased while blending components inventories decreased last week. Distillate fuel inventories decreased by 5.2 million barrels last week and are about 18% below the five year average for this time of year. Propane/propyleneinventories decreased by 1.6 million barrels last week and are about 21% below the five year average for this time of year. Total commercial petroleum inventories decreased by 8.1 million barrels last week.

Total products supplied over the last four-week period averaged 21.6 million barrels a day, up by12.3% from the same period last year. Over the past four weeks, motor gasoline product supplied averaged 8.7 million barrels a day, up by 7.5% from the same period last year. Distillate fuel product supplied averaged 4.4 million barrels a day over the past four weeks, up by 5.6% from the same period last year. Jet fuel product supplied was up 35.4% compared with the same four-week period last year.

(03-20-2022, 05:50 PM)vbin Wrote: Buffet bought more oxy. He is buying whatever he can get his hands on( he literally said this). I think last time he was buying something this aggressive was apple.

(03-20-2022, 09:29 PM)EricL Wrote: I think the correction following the spike on the Russian invasion is over and we are back to trading on fundamentals.

WTI at $106 in pre-market trading. Crude continues to draw worldwide, and I don't see a supply response coming from the US anytime soon as there simply isn't the labor or materials available to ramp production.

(03-21-2022, 03:54 AM)fenders53 Wrote:

(03-20-2022, 05:50 PM)vbin Wrote: Buffet bought more oxy. He is buying whatever he can get his hands on( he literally said this). I think last time he was buying something this aggressive was apple.

BRK timing has been mostly horrible for years now.  I am not inspired by his massive purchase after OXY does a 5X.  Will they trim a year after the oil cycle peaks?  Or the bottom like airline stocks?

(03-21-2022, 09:41 AM)vbin Wrote:

(03-21-2022, 03:54 AM)fenders53 Wrote:

(03-20-2022, 05:50 PM)vbin Wrote: Buffet bought more oxy. He is buying whatever he can get his hands on( he literally said this). I think last time he was buying something this aggressive was apple.

BRK timing has been mostly horrible for years now.  I am not inspired by his massive purchase after OXY does a 5X.  Will they trim a year after the oil cycle peaks?  Or the bottom like airline stocks?

Last time he bought this heavy was apple. Oxy making 220m more for each $1 in oil. This stock is going above $100 buddy( oil ain’t coming down any time soon)