Ithaca Energy Share Discussion Threads

[gersemi] 20/10/2016 14:38

She's really got the bit between her teeth now

[georgie pie] 20/10/2016 13:20

ticking up back to 90...got a feeling a bit more to come later today and into tomorrow, my guess is news on first oil by end of next week.

[sawadee3] 20/10/2016 08:47

Nice to wake up to again :-)

[steve73] 20/10/2016 03:33

IIRC when Iraq invaded Kuwait back in 91, the price of oil almost doubled immediately, before settling back over the next few day to a still healthy premium.
c. $20 - 35 - 25 if my grey matter is still working properly.

[bountyhunter] 19/10/2016 22:18

yes a significant rise over in Toronto again, almost an action reply of last night but better still! :-)

[cfccfc1970] 19/10/2016 21:46

Closed 1.49 currently in Canada = 0.92p GBP !!!
Let's hope it follows through in the morning !!

[gersemi] 19/10/2016 18:49

100p nailed on, of that I have no doubt

[cfccfc1970] 19/10/2016 18:42

1.46 currently in Canada = 0.91p GBP !!!
Let's hope it holds !!

[fruitninja84] 19/10/2016 16:46

Of course *

[fruitninja84] 19/10/2016 16:43

A clear breakout. This is with the buyers now and should attract the attention of greedy momentum traders (myself) to push it up2 a £1 imo. Of could poO dependant but going over my research notes this is looking fab with oil over $50 ... All Imo wtfdik,

[ih_412458] 19/10/2016 16:37

EIA confirmation of API survey. Brent spiked over $53.

[che7win] 19/10/2016 14:36

Oil would rocket if disrupted.

[binarypilot] 19/10/2016 14:32

I guess physical gold might be the best place in that scenario then?

[joestalin] 19/10/2016 14:14

It depends what you mean by "in the Middle East". If Saudi Arabia got involved, the PoO would rocket. Otherwise, it might not affect much beyond the size of the number of "children" in Calais.

[ngms27] 19/10/2016 14:08

The POO would be immaterial as shares would be trashed, plus we might all die

[binarypilot] 19/10/2016 13:48

If US went to war with Russia in the middle East, what would that do to the oil price do you guys think?

Serious question.

Cheers.

[sawadee3] 19/10/2016 08:12

Surging skywards :-)

Happiest days of our lives chaps :-)

[bountyhunter] 19/10/2016 07:37

well spotted WITJ, no news right now so I suspect you are right

[ih_412458] 19/10/2016 01:23

I dont think it's anything to do with company news.

Api survey came out tonight with 'unexpected fall' in crude stocks:




Oil Gains After API Reports Unexpected Fall In U.S. Crude Stocks

By Zainab Calcuttawala - Oct 18, 2016, 5:38 PM CDT


American crude oil supplies have plunged by 3.8 million barrels this week, according to the American Petroleum Institute (API) report released on Tuesday.

This is a variance of almost 6 million barrels from what experts polled by Zero Hedge had anticipated: a 2.1 million increase in crude supplies.

This week’s draw comes as a welcome surprise to oil markets after last week’s EIA data showed a massive build of 4.9 million barrels.

West Texas intermediate prices are up $0.48 to $50.77 after the report was released.

Supplies in Cushing, Oklahoma, saw a 1.96 million barrel drop – the biggest withdrawal since February 2014 - slightly larger than the 1.4 million draw that analysts had expected.

Gasoline supplies increased by 929,000 barrels, while distillates fell by 2.3 million barrels.

Tomorrow’s report from the Energy Information Administration (EIA), which often contains widely different figures, will either confirm or deny the API’s findings.

Torbjorn Tornqvist, the CEO of the Singapore-based commodities trader Gunvor Group, said he “doubts prices can go much higher,” which caused WTI prices to show a little weakness until the API report hit the press.

“People are stepping back and saying, what next? OPEC has to prove it’s really going to do something. They’ve talked the talk, now they’ve got to walk the walk,” Michael Hiley, head of OTC energy trading at New York-based LPS Futures, told Bloomberg over the phone, adding that "he wouldn’t be surprised to see us continue this choppy-type price action and go nowhere."

At the time of the report’s writing, Brent stood up $0.16 at $51.68 since markets opened Tuesday morning.

In better days, the draw might have caused numbers to spike and stay there—at least until Wednesday’s EIA report confirmed or denied the findings.

[melody9999] 19/10/2016 00:32

could be a technical price rise confirming a break out or leaked news?

[bountyhunter] 18/10/2016 21:51

no reason why it shouldn't although sometimes a tad less, ie maybe 85p, unless of course some news breaks :)

[cfccfc1970] 18/10/2016 21:47

1.39 Canadian Dollars = 86p !!!
Be nice if follows through to the London market....!!

[gersemi] 18/10/2016 21:17

What's going on 'ere then?

[bountyhunter] 18/10/2016 20:37

looks like news may be pending?