Shell Share Discussion Threads

[sarkasm] 24/11/2018 09:10

Oil tumbles more than 7% to $50.42, now down more than 30% in 7 weeks
Published Fri, Nov 23 2018 • 8:28 AM EST | Updated Fri, Nov 23 2018 • 2:39 PM EST
Sam Meredith
@smeredith19
Tom DiChristopher
@tdichristopher




Key Points

The latest wave of energy market selling comes amid escalating concerns about an increase in global supply and a slowdown in economic growth.
OPEC and non-OPEC members meeting in Vienna on Dec. 6 are expected to start curtailing output.
The value of a barrel of oil has tumbled about 20 percent this month, adding to a seven-week streak of consecutive losses.

[zho] 24/11/2018 08:28

For the oil market, it looks like the real OPEC meeting will come a week ahead of schedule.

The cartel is set to meet on Dec. 6 in Vienna, but days earlier the key decision makers are set to gather on the sidelines of the G20 summit in Buenos Aires in a meeting that may well decide the direction of oil prices in 2019.

[sarkasm] 23/11/2018 19:17

Markets Oil Markets

Frackers Fret as Trump Tweets for Lower Oil Prices
President’s call for prices to go lower concerns some in U.S. oil patch, who worry companies would have to curb drilling
By Christopher M. Matthews and
Bradley Olson
Nov. 23, 2018 1:28 p.m. ET

President Trump’s comments calling for oil prices to keep falling have some American shale drillers seething.

[ukneonboy] 23/11/2018 17:57

By historical standards Shell B shares now look good value. Admittedly the falling Crude price has caused the recent sell-off but certainly not expensive @ £23.25

[waldron] 23/11/2018 17:04

Total
47.585 -3.01%


Engie
12.09 -0.45%

Orange
14.635 -0.07%

FTSE 100
6,952.86 -0.11%
Dow Jones
24,403.55 -0.25%
CAC 40
4,946.95 +0.18%

Brent Crude Oil NYMEX 58.83 -6.05%
Gasoline NYMEX 1.38 -6.25%
Natural Gas NYMEX 4.48 +5.88%


BP
512.6 -2.40%


Shell A
2,300.5 -3.48%


Shell B
2,332.5 -3.83%

SO THE PREMIUM IS DOWN TO 32p
The 2275 to 2375p BOX has been entered
some might say a great buying opportunity
and might wushed they had sold at the highs
greed is a funny thing

[ariane] 23/11/2018 16:36

Oil prices plunge as glut fear triggers heavy selling
Energy analysts blame excessive production and weakening global economy
By Asia Times staff November 23, 2018 11:46 PM (UTC+8)

0
0

Oil prices fell on Friday to lows not seen since last year as concerns over high crude supplies prompted massive selling, according to dealers.

The WTI futures contract, the New York commodities markets’ benchmark, plunged more nearly 7% on the day, while its European counterpart, Brent Crude, dropped close to 5%.

High global oil production compared to demand was the main reason for Friday’s selling, while the outlook for a weakening world economy led investors to conclude that growth would not be strong enough to absorb the surplus.

“The truth of the matter remains that rising global crude supply coupled with worrying signs of slowing demand have written a recipe for disaster for the oil markets,” said Lukman Otunuga, a research analyst at FXTM.

With a December OPEC meeting not expected to make a major dent in production levels, WTI now had scope to fall to $50 “in the near term,” he said.

By the mid-European afternoon, WTI was just below $51 and Brent just under $60.

Some analysts blamed US President Donald Trump for falling oil prices.

“Although most analysts claim that this has to do with supply overhang and increased production from Russia and Saudi Arabia, the bottom line is that the US president keeps pushing for lower prices,” said Fiona Cincotta, senior market analyst at City Index trading group.

“While this is the case it will be difficult to see a return to oil at a higher level unless oil cartel OPEC decides on a major output cut at its next meeting on December 6.”

– With reporting Agence France-Presse

[montyhedge] 23/11/2018 16:25

I think lower next week. Like I said forced sellers out there, Leveraged bulls, capitulation then buy.

[essentialinvestor] 23/11/2018 16:22

I've been tempted today but have held off.

May be a mistake to wait, find out next week.

[montyhedge] 23/11/2018 15:56

Leverage oil bulls, got to sell. I reckon end of next week, oil capitulation.

[essentialinvestor] 23/11/2018 15:24

FX also supportive atm.

[montyhedge] 23/11/2018 15:19

But Shell only down 1% for the year, that's nothing. 2150p my target from 2275p.
Value Trap at the moment. Buybacks saving the shareprice, in my view.

Oil ETF's are normally leveraged 3 times. Ouch.

[montyhedge] 23/11/2018 15:18

He does not care about them, he wants lower oil, he said as low as possible. Arabs pumping at record, it will hurt the Russians.

[adrian j boris] 23/11/2018 15:02

montyhedge
23 Nov '18 - 14:55 - 4006 of 4006
0 0 0
2175p if arabs keep pumping at record levels to keep Trump happy.

AS ALREADY MENTIONED BY zho

TRUMP CANNOT WANT THE OIL PRICE TOO LOW AS TO MAKE HIS HOME GROWN FRACKERS FACE FINANCIAL DIFFICULTIES


EARLY DECEMBER WILL EXPLAIN ALL

[montyhedge] 23/11/2018 14:55

2175p if arabs keep pumping at record levels to keep Trump happy.

[imperial3] 23/11/2018 14:54

Was it Barclays Capital predicting a target price of + £30 ? It makes you wonder about these overpaid analysts.

[zho] 23/11/2018 14:50

EssentialInvestor,

Mount Teide commented on that story on the TXP thread a couple of days ago. The gist is that saying "Many of them would turn a profit even with crude prices as low as $30 a barrel" is misleading. Yes, they can turn an operating profit at $30 but that ignores the (cost of the) high levels of debt carried by the shale industry.

See

Edit: you could also look at

[essentialinvestor] 23/11/2018 14:41

Any thoughts on the above?.

[montyhedge] 23/11/2018 14:26

LNG from US to Russia dumped in Europe, as China full. Bloomberg.

[essentialinvestor] 23/11/2018 14:03

Phantom Drophead to give it the correct title,
it's difficult to mistake for another car!.

[adrian j boris] 23/11/2018 14:01

MINES OILB BAK

[montyhedge] 23/11/2018 13:59

No, all though I do have a personal number plate, Oil 1 year low, as arabs pumping at record levels, are they keeping Trump happy.

[adrian j boris] 23/11/2018 13:59

are you sure it was a Rolls and not a BENTLEY SUV