VBIN's oil stock thread.

[fenders53]

All in on oil now. XLE and EOG, ENB if that counts.

[EricL]

Add another 4M barrel draw from the SPR to this and we are draining storage like crazy. This is the time of year to be building storage for higher summer demand...

API weekly oil inventory report
Crude:-4.280M
Distillates: -0.826M
Gasoline: -0.626M
Cushing: +0.646M

[fenders53]

(03-22-2022, 04:11 PM)EricL Wrote: Add another 4M barrel draw from the SPR to this and we are draining storage like crazy. This is the time of year to be building storage for higher summer demand...

API weekly oil inventory report
Crude:-4.280M
Distillates: -0.826M
Gasoline: -0.626M
Cushing: +0.646M

That will be good. When a little extra oil shows up it won't make a lot of difference.  I do wish we could lock gasoline prices right here but it's not going to happen.  Oil and rising rates are going to end up taking out the economy.  I'll just hope it's not until next year.  I am kind of anxious for my tech stocks to get a chance to run.

[EricL]

Another huge draw confirmed by EIA. Over 10.9 million barrels out of storage during what should be the peak of shoulder season.

   

We are in for a world of hurt this summer.

[vbin]

Bought more oxy today and sold covered calls for $75 a month out

[vbin]

[mention]EricL [/mention] any way to see yoy oil demand, production and storage?

[fenders53]

That's going to be COVID era tainted. I want to see next year's data. . I think we know what 90 days looks like and it's gonna be rough on some sectors.

[EricL]

The Oil Crisis is Unfolding in Slow Motion

[EricL]

(03-23-2022, 11:20 PM)vbin Wrote: [mention]EricL [/mention] any way to see yoy oil demand, production and storage?

Found this chart today that shows supply surplus/deficit compared to price over the years.

https://twitter.com/aeberman12/status/15...EvZQQ&s=19

[fenders53]

(03-24-2022, 08:19 AM)EricL Wrote: The Oil Crisis is Unfolding in Slow Motion

 Interesting article.  It seems very plausible except for the part where oil has to significantly exceed 145 to harm demand.  That's how oil bulls lose money piling more in at the top.  It's wishful thinking to believe the world economy won't hit a wall if prices remain well above 145 for a prolonged period.  

Maybe it's different this time but I don't remember extremely high oil prices ever not causing a recession.

[fenders53]

Closed out some of my oil puts today because they were just about worthless and no need to hold. Investing in every small oil dip has been easy money. EOG has been particularly good and I don't think the underlying has really moved much the past few weeks. Oil may run away from me again soon as I really need a dip to jump inwith new money.

[ConnerM]

I only own CVX. Have been wanting to add some oil but feel like I missed the run. We have a nice dip today. Would y0u buy some good quality names today. Thinking DVN and EOG

Maybe quarter position today and add on dips?