And their offers are being rebuffed. Remember the US blocking Dubai's acquisition of New York port? Bit of protectionism at play.
The price of oil/the cost of energy
- Thread starter Dans
- Start date
-
In the latest episode of the United Hour Podcast, Nik and Imran discuss a horrific month of December and a depressing FOUR defeats in a row - the latest coming against Wolves and Newcastle.
They discuss how much blame is on Ruben Amorim and rank our squad against other Premier League teams.
Do we have any chance of avoiding defeat at Anfield?
Also equally as bad as their oil predictions: http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ayxRKcAZi630
Anyway, I'm buying Oil ETFs at these levels.
Naive of me I know, but I don't understand the mad rush of the US to use up all their own natural resources. Surely safer to wait it out for the long haul and have nice reserves as other countries deplete theirs.
Moreso national security concerns.
Probably has a bit to do with being energy independent. Being a net exporter instead of an importer gives the US a lot more geopolitical leverage on a variety of issues and undercuts the usual suspects (Russia, Saudi et al) from being able to set a political agenda related to oil.
China needs a massive infrastructure spend before it is viable.
Avoiding 'super cantango'. Which etf you backing? Sceptical about the tracking error. Different note but trying to find a Vix mirror is tough.
eon cutting UK gas prices by 3.5%
Can't post the link from my phone, but I think it's a trend the other big 6 will have to adopt. So good news for the consumer.
Can't post the link from my phone, but I think it's a trend the other big 6 will have to adopt. So good news for the consumer.
Good article on how shite oil ETFs are at tracking the oil price.
http://www.businessweek.com/articles/2015-01-12/the-perils-of-bargainhunting-with-oil-etfs
http://www.businessweek.com/articles/2015-01-12/the-perils-of-bargainhunting-with-oil-etfs
Yeah, agreed. Couldn't find on yet which really tracks it well enough. Down another 3% today, this is getting very tasty.
And agreed re VIX, that one is notoriously hard to mirror. Thought of options but those track the Vix futures which don't really behave in the same way as the spot index.
On another note, what do you reckon of Russia? There's the RUSL ETF I'm thinking of. Obviously completely smashed down over the last year (-90% y-o-y). http://www.google.com/finance?q=rusl&ei=xeCzVLjVFaeJwAOP9YDYBw
What's the price of unleaded at the UK pumps at the moment?
It was £1.08 per litre near me a couple of days back.
The key to finding a good Oil ETF is choosing one that has oil services constituent stocks in it. If you choose one like USO, it apparently weights its holdings towards bigger companies, the sensitivity to oil is going to be less. OIH by comparison, has services companies like SLB and HP, which are extremely sensitive to movements in the price of oil. As individual stocks, HP, SLB, and RIG are quite sensitive as well.
USO is meant to track the WTI spot price, but it gets hammered by roll yield. I guess you can try and play it through oil services companies but that obviously brings in company risk. Would prefer a pure play on the spot price, but doesn't like there is much decent on offer for retail investors barring hit and miss ETFs.
Yep, my missus' fund couldn't find a decent way of playing the Vix and more or less gave up on it.
Not sure about Russia. Beside the oil rout, you've got the tanking rouble, rising inflation, Western sanctions etc...Will be a brave man who takes in on 3x leveraged! Maybe when the oil price stabilised it could be worth a look as it might not take much to lift the market a bit.
One other thing though, can ETFs properly track the Russian stockmarket? Thought the likes of Gazprom, Lukoil and Rosneft are all more than 10% of the index, so ETFs can't given them their full market weighting? Kind of similar to Brazil with Petrobras. Maybe that's just physically replicated ETFs.
Bloody hell I was paying 1.26 when I left in November!
Russia is a tricky one in that it should stabilize once oil bottoms and begins to gradually climb up again, but at the same time, growth in Russia will be severely mitigated by the continued sanctions. The real home run play will be when oil begins to climb and sanctions are lifted.
Interesting comment from Nomura today. Their analyst has just come back from a visit to the Middle East and believes the convention that the Saudis are trying to squeeze US shale producers is a smokescreen. He reckons they are actually wanting to hurt Iran and force regime change.
BritishGas dropping their prices by 5% resulting in an annual saving of roughly £37.
Canary W accepted a £2.6bn bid from the Qataris.
Oh shit. Saw Songbird put an RNS out quite late but got side-tracked and forgot to read it.
OPEC are prepared to take the pain to try to drive shale oil and the like out of business I'd guess triggered by a downturn in demand primarily from China.
It is down to 97.9c in most of Sydney today.
Down to $1.75/gallon in some us cities. Never thought we'd see below $3 again. Apparently sales of huge suvs way up... Idiots will never learn.
Prices down to $36 a gallon now. Could stay at this level for a bit apparently. People enthusiastically buying SUVs now as well.
If Trump gets nominated, watch the price skyrocket.
114yen (63p a litre) here at the moment.
It'll drop further.
Russia, Nigeria, et al... Are fecked
You sure? I better start walking everywhere then.
Surely he meant barrell.
Oil to be found under the Euphrates [speculation].
I know. Just pulling his leg
Not bad here in New Jersey with prices at $1.68 gallon.
Maybe if we can drive 500 miles per gallon then is not bad at all.
Best thing about this is that Putin is getting fecked.
$6.70 a gallon in the UK :/
better than it was mind you.
better than it was mind you.
In India the government has increased the import duty and taxes to obscene levels and keep increasing it more whenever the price falls further so has had little impact on reducing the price to the consumer.
Nice windfall i suppose for the exchequer though.
Nice windfall i suppose for the exchequer though.
Prices will rise in the medium term, the expenditure on exploration & production has been slashed so much it's only a matter of time before it will bite again.
All my spare cash will be invested in oil stocks again.
I have read conflicting reports about the cost to produce/drill oil in different countries. Does anyone have solid data about that?
I also had to laugh about a fed report (dunno the exact date), that tried to outline a couple of "realistic" scenarios about the future price of oil and the cheapest scenario was that oil would be at 40$/barrel for 2016. So I guess few people are actually able to predict the price. Considering that Iran might start pumping out a lot more could mean that the price could continue to fall in 2016.
I also had to laugh about a fed report (dunno the exact date), that tried to outline a couple of "realistic" scenarios about the future price of oil and the cheapest scenario was that oil would be at 40$/barrel for 2016. So I guess few people are actually able to predict the price. Considering that Iran might start pumping out a lot more could mean that the price could continue to fall in 2016.