20 Reacties

1. 

   mr.drs.Bou op 21 april, 2020 om 12:14

   Aanvulling:
   Why did the oil market crash into negative? RT’s Max Keiser gives his take on record-low crude prices & broken banking system

   Oil’s dramatic price plunge into negative territory is just one “severed limb” of a dying “banking beast,” said RT’s Max Keiser, warning that the long-term fallout from the 2008 crash has rendered price signals meaningless.

   West Texas Intermediate (WTI) crude futures – the main US benchmark – saw an unprecedented drop on Monday, settling at a historic low of -$37.63 per barrel and dipping into negative territory for the first time since the New York Mercantile Exchange (NYMEX) opened its doors in 1983. While the freefall was helped along by dissolving demand amid the global coronavirus pandemic and the aftermath of a Russia-Saudi price war, Keiser said the problems go much further, pointing to deep-seated structural flaws in the world economy.

   Trump says US will add 75mn barrels of oil to national reserve amid ‘record-low’ prices

   US crude price turns negative AGAIN after briefly trading above zero

   First Negative Interest Rates, Now Negative Oil Prices – Ep 564 duurt 40 minuten.

   Antwoord
2. 

   mr.drs.Bou op 21 april, 2020 om 15:17

   Nog een aanvulling:

   Vanmorgen had ik niet door dat de future contracten voor mei VANDAAG aflopen. Vandaar de paniek. Maar de future markt voor juni loopt tot 19 mei, dus dan krijgen we weer een zelfde overvloed. Heeft iemand nog een tanker voor me te koop? Dan zet ik die in mijn achtertuin en laat hem volgende maand vullen. Gratis olie en geld toe! 🙂

   Bij deze de nieuwe headlines op Zero Hedge:

   Who Was Panic Selling Oil Today? Goldman Answers

   Three Reasons Why Politicians Must Leave Oil Markets Alone

   What’s Next For Oil As Prices Go Negative?

   On the one hand, the negative pricing will be chalked up to a weird one-off glitch, a confluence of historic firsts due to a price war, pandemic and downward economic spiral. The bizarre development may quickly be forgotten as traders move on to the June WTI contract, which is trading at $20 per barrel. But while June doesn’t appear quite as catastrophic, oil at $20 is not a price at which most oil companies can survive for any lengthy period of time. Moreover, there is no reason to think that $20 is the floor.

   Crude Crash Spreading: June WTI Contract Plunges 42%, Brent Dips Below $20

   Overnight, Morgan Stanley joined Goldman in warning that with current total usable capacity is around 79MM bbls, the remaining storage capacity will probably be exhausted in 4 weeks, “this puts ‘tank tops’ in the middle of May, after that, there is probably no more storage capacity available.”

   Kortom: vol = vol en morgen weer een dag.

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3. 

   mr.drs.Bou op 21 april, 2020 om 18:35

   Beste mensen, ik ben geen econoom en ik snappernix van, daarom een vraagje:
   Als de petro minder dan niets waard is, wat is dan de waarde van de petrodollar?
   Ach, de future oliemarkt voor juni loopt tot 19 mei, dus we wachten maar af hoeveel de crude dan kost.

   Futures, Oil Plunge As Crude Contagion Spreads To All Markets

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4. 

   mr.drs.Bou op 22 april, 2020 om 10:50

   The Crisis Going On Right Now, That You Are Not Being Told About… duurt 11 minuten.

   Pas op: 22 mrt. 2020, dus een maand geleden!

   Oil Will See a Violent Bottom in Next Few Weeks: Rapidan’s McNally durt 8 minuten.

   21 apr. 2020, Bloomberg Markets and Finance

   Crude oil statistiek

   Brent crude oil

   Benzine groothandel

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5. 

   mr.drs.Bou op 22 april, 2020 om 11:44

   OIL ARMAGEDDON: What Will It Mean For You? Mike Maloney duurt 18 minuten.

   20 apr. 2020

   OIL CRISIS DEEPENS: What I’m Doing – Mike Maloney duurt 31 minuten.

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6. 

   mr.drs.Bou op 22 april, 2020 om 19:55

   De coronacrisis van de euro

   Michael Roberts (*) 21 april 2020

   Aanstaande donderdag 23 april is er een videoconferentie van de EU-leiders om opnieuw te bespreken wat te doen met de coronapandemie en de daaruit voortvloeiende lockdown van de productie over het hele grondgebied. In het bijzonder is er de omstreden vraag hoe hulp te bieden aan EU-lidstaten als Italië en Spanje die het hardst door de pandemie zijn getroffen.

   Vorige week kwamen de ministers van financiën van de eurozone tot een noodhulpplan tegen de Covid-19-pandemie, na teleconferenties over drie dagen en twee nachten. De PIGS (Portugal, Italië, Griekenland, Spanje) mikten hoog met de eis dat de landen van de eurozone de last van de crisis delen met een gezamenlijk uitgegeven schuldinstrument, bekend als ‘coronabond’. De FANG’s (Finland, Oostenrijk, Nederland, Duitsland) of ‘vrekkige vier’ wezen dit af en stelden voor dat elk lid van de muntunie zijn schulden alleen draagt.

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7. 

   mr.drs.Bou op 23 april, 2020 om 08:40

   Crash Oil 2020 — Only War could Boost Oil Prices so long The economy is in a FED Induced Coma !! duurt 12 minuten.

   Negative Oil Prices! WTF? Is The Entire System Collapsing?!?! (Answered) duurt 22 minuten.

   COULD THE OIL CRISIS MEAN WAR? – Special Report from Mike Maloney duurt 27 minuten.

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8. 

   mr.drs.Bou op 24 april, 2020 om 10:48

   EXCLUSIVE: Dozens of oil tankers anchor along Pacific Coast

   Kyle Bass: “The Saudis Are Sending Us A 50 Million Barrel Oil Bomb”

   And if even the army of Robinhood-ers now know how impossible it is to find space for physical oil on the continental US, then Saudi Arabia – which sparked the current crude crisis and which will not stop until shale is completely crushed – is certainly aware.

   Which is why with the US unable to store its own output, some 50 million barrels of Saudi oil are on their way to the United States and due to arrive in the coming weeks, piling even more pressure on markets already struggling to absorb a glut of stocks, Reuters and MarineTraffic reported.

   Will Trump go to war with Iran to save America’s oil industry?

   Scott Ritter is a former US Marine Corps intelligence officer. He served in the Soviet Union as an inspector implementing the INF Treaty, in General Schwarzkopf’s staff during the Gulf War, and from 1991-1998 as a UN weapons inspector. Follow him on Twitter @RealScottRitter

   The only way out of this economic disaster is for the world to cut back on oil production. Talks between the major oil producers earlier this month produced planned cuts of around 10 million barrels per day, leaving some 17 million barrels in daily overproduction. While there are talks about instituting additional cuts, no nation wants to sacrifice market share in order to save US shale oil, which many nations blame for much of the overproduction taking place today.

   There is one way, however, to instantly remove more than 20 million barrels a day from the global economy—a war with Iran that closes the Strait of Hormuz and shuts down oil production in the Persian Gulf region. Back in 2019, this very outcome is what mitigated against a military conflict between the US and Iran. Today, with the US oil industry in crisis and facing potentially irreversible losses, a Middle Eastern war suddenly makes perfect sense.

   Oorlog is een manier om de olie-overvloed te stelpen en Iran is al heel lang een doelwit voor de VS.

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9. 

   mr.drs.Bou op 24 april, 2020 om 11:42

   Can Oil Prices Get Back To $100?

   U.S. shale had already been in serious decline as West Texas wells aged and the gush of the shale revolution. Now, with the oil price crash, the Permian Basin has been burdened with bankruptcies and tens of thousands of fired and furloughed employees. So when we are able to return to business as usual, there will likely be a shortage of spare capacity. Low supply, high demand. That’s how these things work. Keep an eye out for $100 barrels coming down the pike.

   Most folks in the know are now musing that what storage remains will be filled up completely sometime in May or early-June.

   And filled up it will be, because that is the express goal of the world’s largest oil exporter, Saudi Arabia. The Saudi price war started out as a spat with the Russians over carrying the burden of a production cut. It has since expanded into the Saudis targeting the end markets of every single one of what the Saudis’ consider to be inefficient producers. The Saudis are directly targeting markets previously serviced not just by US shale and Russian, but those serviced by Kazakhstan and Azerbaijan and Libya and Iraq and Iran and Malaysia and Indonesia and Mexico and Norway and the United Kingdom and Nigeria and Chad and you get the idea.

   Oil: The Storm Before The Really Big Storm

   Most folks in the know are now musing that what storage remains will be filled up completely sometime in May or early-June.

   And filled up it will be, because that is the express goal of the world’s largest oil exporter, Saudi Arabia. The Saudi price war started out as a spat with the Russians over carrying the burden of a production cut. It has since expanded into the Saudis targeting the end markets of every single one of what the Saudis’ consider to be inefficient producers. The Saudis are directly targeting markets previously serviced not just by US shale and Russian, but those serviced by Kazakhstan and Azerbaijan and Libya and Iraq and Iran and Malaysia and Indonesia and Mexico and Norway and the United Kingdom and Nigeria and Chad and you get the idea.

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10. 

    yvonne op 24 april, 2020 om 22:44

    https://www.youtube.com/watch?v=tnbhttps://www.youtube.com/watch?v=tnbV7IY9uq0V7IY9uq0 ik wist niet waaronder te plakken, maar deze man is nog echt een oude ouwerwetse journalist

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    • 

      mr.drs.Bou op 25 april, 2020 om 09:11

      Goede morgen Yvonne. Ik wens je gezondheid, maar als ik op de link klik, dan is deze video niet beschikbaar. Censuur is zuur!

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11. 

    mr.drs.Bou op 26 april, 2020 om 11:45

    Why The Oil Price Crash Was Inevitable

    The companies that took on the debt, or equity, to drill must keep drilling to generate revenue. As supply increases, prices decline, leading to further drilling losses in wells, which were only marginally profitable to begin with. Companies then have to take on more debt to remain operational, further increasing supply, in hopes that prices will eventually rise.

    While logic would suggest companies actively reduce the supply to increase prices, operators are unable to “shut-in” production due to the loss of needed operating revenues, but also the underlying land leases. Therefore, they are forced to continue the drilling process, further exacerbating the supply problem.

    The current levels of supply create longer-term issues for prices globally.

    In 2020 Oil-Exporters’ Income Will Plunge By Over $1 Trillion, Forcing Widespread Stock Liquidations

    While any other time the plunge of WTI prices into negative territory last Monday would have been the story of the year, the fact that the financial press has already moved on and is focusing on whatever 100-sigma event du jour has hit, merely shows just how insane 2020 has been as a decade of central planning slowly comes unglued thanks to a black swan bat trigger that has shut down the global economy and cash flows while keeping stocks just shy of all time highs.

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12. 

    mr.drs.Bou op 27 april, 2020 om 11:22

    Hedge Fund CIO: “The Oil Price Is A Rare Indicator Of What Is Still Real In This Market”

    Absorbing a financial asset glut is easy for a committed central bank. They credit a column, change a ledger, hit a button, hire the Blackrock boys. Add a server, maybe two. That’s the Fed’s storage cost.

    Which leaves the oil price as a rare indicator of what’s real. Unemployment claims are real too. They’ve jumped 26mm in the two months since stocks hit all-time highs.

    Speculanten zijn niet alleen hun geld kwijt, zij moeten betalen voor de negatieve olieprijs!

    Bank Of China Clients Lose Over $1 Billion During Oil Crash, Many End Up Owing The Bank Money

    On Saturday, Bloomberg carried a vivid depiction of how some Chinese investors lost all their life savings in the blink of an eye investing in the “Crude Oil Treasure”:

    “When we saw the oil price start plunging, we were prepared that our money may be all gone,” she said. They hadn’t understood, she said, what they were getting into. “It didn’t occur to us that we had to pay attention to the overseas futures price and the whole concept of contract rolling.”

    Yes, well, that’s what happens when retail investors, or rather “investors” get complacent in a centrally planned market where central banks have removed all risk… except when risk makes an ugly appearance.

    Naturally investors – none of whom ever expected that oil prices could turn negative and end up owing the bank money for being long a security – were livid, But multiple bank traders told Caixin that the settlement date was set well in advance, so it wasn’t as if the bank had suddenly changed it. A bank trader said this was a situation where the “trading mechanism encountered an extreme situation in the extreme.”

    Several traders and market participants told Caixin that some investors in the paper crude trading products were caught up in the price plunge because they tried to “buy on the dip” when crude prices dropped to $20 a barrel… without considering that prices could sink further into negative territory. As a result buyers ended up owing money to the bank.

    The Oil Market Is Broken

    The oil industry became one of the main areas of malinvestment in the years of massive liquidity and low yields. This perpetuated excess capacity and kept inefficient companies unnecessarily alive. OPEC cuts added another layer of support that ultimately came back to bite producer nations.

    Before Covid-19, there were dangerous signs of a slowdown in the energy world. The IEA (International Energy Agency) already lowered demand growth estimates in 2019 and warned of the pace of weakening. In June 2019, the Oil Market Report lowered demand growth expectations to 1.2 million barrels a day, a cut in estimates that it had also made in May and April of the same year. Global oil inventories were comfortably at the average of the previous five years and oil stored on sea was beginning to rise worryingly for a world that was apparently growing steadily.

    The reason why the oil market is broken is because it was not a free market. It benefitted from direct and indirect subsidies to create overcapacity and excess supply, and it has become a consequence of the excess in monetary and fiscal policies. The energy sector has become the clearest example of a “too-big-to-fail” mistake. Unfortunately, malinvestment will be -again-rewarded, and the oil market is likely to remain as inefficient and bloated as the coal and alluminium ones.

    “We Are Moving Into The End-Game”: 27 Tankers Anchored Off California, Hundreds Off Singapore As Oil Industry Shuts Down

    Fast forward to March 2020, when Saudi Arabia doubled down in its attempt to crush shale, only to avoid angering long-time ally Donald Trump, the Crown Prince pretended that the latest flood of oil was an oil price war aimed at Moscow not Midland. And this time, unlike 2014, with the benefit of the global economic shutdown resulting from the coronavirus pandemic, the Saudis may have finally lucked out in the ongoing crusade against US oil, because as Bloomberg writes with “negative oil prices, ships dawdling at sea with unwanted cargoes, and traders getting creative about where to stash oil”, the next chapter in the oil crisis is now inevitable: “great swathes of the petroleum industry are about to start shutting down.”

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13. 

    mr.drs.Bou op 4 mei, 2020 om 09:52

    There Is Now A Record 375 Million Barrels Of Oil Stored On Tankers

    Saudi Officials Say Whopping 70% Of Mecca’s Population Likely Infected With COVID-19

    By far the largest annual gathering of humans in the world is the pilgrimage to Mecca, which in 2018 alone saw about 2.4 million Muslims make the religious trip. Perhaps it was too late even by that point? A new report in Middle East Eye suggests nearly 70% of Mecca, or more than two million residents, has the virus based on recent rounds of broad testing, also amid the growing threat to the Saudi Royal family

    The Coronavirus Will Make A Mirage Of Saudi Arabia’s Vision 2030

    In fact, Riyadh’s economic vulnerability became clear after demand for oil plummeted amid the coronavirus crisis and the oil price war with Russia, creating the biggest oil shock since 1973 – which, in contrast to the current crisis – created higher oil prices.

    Though both countries agreed to a mutually acceptable deal to cut production last week, oil prices are still arguably too low to revitalise Riyadh’s economic growth. Demand has fallen by between 25 and 35 million barrels per day – still much higher than the 9.7 billion barrels per day oil producing nations agreed to cut. Analysts are already warning that continued lower oil prices could further widen Saudi Arabia’s deficit.

    Tadawful: Saudi Stocks Crash After FinMin Warns Of “Biggest Crisis In Decades”

    Yesterday we cautioned that “Selling in May” may be a good risk strategy for 2020, and for traders in Saudi Arabia that warning is already being validated with Saudi stocks crashing the most in almost two months following a Moody’s outlook cut and the kingdom’s finance minister saying that “painful” measures including deep spending cuts, are needed to respond to the coronavirus crisis and crash in oil prices, while Saudi officials said a whopping 70% of Mecca’s population is already likely infected with the coronavirus.

    It wasn’t just Saudi Arabia – where more than 100 Saudi stocks retreated between 9.5% and 10% – saw violent selling. Stocks in Kuwait, the United Arab Emirates, Qatar, Egypt and Israel also declined. In Dubai, 10 stocks including Deyaar Development, Damac Properties and Dubai Investments fell between 4.8% and 5%, the maximum allowed limit.

    And now, Saudi Arabia is blowing through its reserves at the fastest pace in at least two decades, even as the government is barely using the holdings to cover fiscal needs. Following its debut in international bond markets in 2016, borrowing covered most of the budget deficit in the first quarter.

    With its buffers already fragile and the economy waylaid by the coronavirus, Saudi Arabia is looking to scale back spending and rely more on debt. Straining under lockdown to contain the spread of the pandemic, the kingdom is also bracing for a second impact from the oil rout and unprecedented production cuts negotiated by OPEC and its allies, after a damaging price war between Russia and Saudi Arabia.

    China brings The Coup De Grace to Saudi Arabia & The Petrodollar – Geopolitical Oil Reset. duurt bijna 13 minuten.

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14. 

    mr.drs.Bou op 19 mei, 2020 om 11:35

    Vandaag is het 19 mei, dus de futures voor aardolie vervallen vandaag.

    A Record Fleet Of 117 Tankers Is Bringing Super Cheap Crude To China

    While the rest of the world is tentatively coming out of lockdowns, China is taking advantage of the cheapest crude oil in years to stock up as demand is starting to return in the world’s largest oil importer, Bloomberg reported on Friday, citing tanker-tracking data it has compiled.

    Oil Soars, Prompt WTI Contango Disappears As Chinese Oil Demand “Almost Back To Pre-Crisis Levels”

    After plunging more than 20% in Q1 due to the economic shutdown from the coronavirus pandemic, Chinese oil demand is now “all but back to levels last seen before Beijing imposed a national lockdown to fight the coronavirus outbreak” Bloomberg reported citing people with inside knowledge of the country’s energy industry, who may or may not be long oil futures.

    Gasoline and diesel are leading the recovery in China as commuters prefer the safety of their own cars, rather than using public transport, while jet-fuel demand has remained subdued.

    The quick turnaround in China, the world’s second largest oil consumer behind only the U.S., has helped tighten the petroleum market sooner-than-expected, and the result is a sharp rally in West Texas Intermediate crude, which a month ago plunged into negative prices and last traded above $32 a barrel.

    Trading Economics:

    Crude oil

    Brent

    Het blijft een casino…

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15. 

    mr.drs.Bou op 21 mei, 2020 om 09:51

    Shocking Future Of OIL PRICES! (Revealed) duurt 19 minuten.

    George Gammon
    111K abonnees
    Oil price INTEL YOU NEED TO KNOW! We always talk about how a society can’t consume unless there’s production. But how can there be production without energy? Answer: There is no production without energy, and currently oil is the most dense source of energy. So when analyzing oil prices you need to start with the premise that there has to be a buyer for oil OR the standard of living, for society as a whole, will dramatically increase. If you believe we’ll choose to use oil over going into a global depression for decades then you must also believe the price of oil will at some point be higher than the cost to produce. And here’s were it gets interesting, we all know oil will most likely be higher long term, but how much higher? $50, $100, $200 a barrel? Those are the questions about the future of oil prices we explore in this video and much much more!

    If you’re interested in oil, commodities, gold, silver, and the future of the economy THIS VIDEO IS FOR YOU!

    In this video where we explore future oil prices I discuss the following:

    1. What can we learn from past oil prices?
    2. What are past and current costs to produce oil?
    3. What is the actual value of oil and what could cause oil prices in the future to rise?

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16. 

    mr.drs.Bou op 11 juni, 2020 om 11:36

    Goldman Made $1 Billion As Oil Plunged Below Zero

    As a result, while countless of (most retail) traders suffered massive losses as oil plunged from $15 to -$40 in one session, Goldman made a killing. According to Bloomberg, Goldman’s commodities desk generated more than $1 billion in revenue this year through May, benefitting from oil’s wild swings for its best start in a decade.

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17. 

    mr.drs.Bou op 1 juli, 2020 om 12:45

    Will China Forming Oil-Buying-Cartel End The Petrodollar?

    Since China is now the world’s largest importer of oil it only makes sense they would flip the switch and act as price makers rather than be price takers.

    This makes perfect sense, economically, in the current environment as troubled oil exporters like Saudi Arabia continue to try and exert influence over the oil market.

    Royal Dutch Shell To Write Down Up To $22 Billion After COVID Hit

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18. 

    mr.drs.Bou op 4 juli, 2020 om 11:27

    Supertanker Rates Collapse: “The Dam Has Burst”

    Alas, there are now a lot more tankers than cargoes.

    Rates are sliding, owners are capitulating, and charterers have the upper hand.

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19. 

    mr.drs.Bou op 11 september, 2020 om 10:11

    “It’s Happening Again” – Traders Store Oil At Sea As Recovery Falters

    Crude prices slid Thursday as the stalled global economic recovery from the virus pandemic triggers a “second wave” of demand fears and sparks renewed interest in floating storage as the oil market flips bearish.

    Reuters said a “fresh build-up of global oil supplies, pushing traders including Trafigura to book tankers to store millions of barrels of crude oil and refined fuels at sea again.”

    Floating storage, onboard crude tankers, comes as traditional onshore storage nears capacity as supply outpaces demand.

    Antwoord

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