Tullow Oil Share Discussion Threads

[bozzawozza] 09/6/2020 19:25

Then you should still be buying more, should you not?

[teamwork1] 09/6/2020 19:17

I still think 37p very cheap my break even is at 1.37 so still got long way to go. I should have bought more.

[waldron] 09/6/2020 19:14

Goldman Sachs says an oil price correction as deep as 20% ‘may already be underway’

Published Tue, Jun 9 202012:00 PM EDT

Updated 2 hours ago

Natasha Turak
@NatashaTurak

Key Points

“Despite the rally, we have been hesitant to recommend a long position this early in the cycle for several reasons,” Goldman Sachs commodities analysts wrote Tuesday.

Surplus oil inventory of an estimated 1 billion barrels has piled up as the world’s economic activity and travel remains largely at a standstill amid coronavirus fears.

There’s also widespread uncertainty over a demand rebound, with health authorities stressed the risk of a second wave of Covid-19 infections plunging countries back into lockdown.

[bearnecessities] 09/6/2020 18:49

Shorts down to 7.24% as of yesterday's close.Guaranteed more were 'let out' today after the huge gap down. So expect shorts to have reduced further when the numbers update tomorrow afternoon.Good to see us close more or less flat on a pretty red day across the index.Onwards and upwards.

[koetser] 09/6/2020 18:28

do you know what the current short position on tullow is? 6 to 7%?
It was about 8.1% on Friday

[allseeingeye1] 09/6/2020 17:12

Whitebox reduced their short by a massive 0.42% yesterday that would be millions of shares they had to buy, now once one hedge funds pulls out they all start to follow, and a short squeeze will send this higher

[sbb1x] 09/6/2020 16:31

Dow 27,351Brent 40.68At 4.30 close.

[waldron] 09/6/2020 16:23

Oil Drops on Renewed Oversupply Concerns
Date : 09/06/2020 @ 16:56
Source : Dow Jones News

Oil Drops on Renewed Oversupply Concerns
Print
Alert

By Amrith Ramkumar

Oil prices edged lower Tuesday, declining for the second consecutive session with some traders concerned that fuel demand won't rebound as quickly as anticipated.

U.S. crude futures for delivery in July were recently down 0.6% at $37.95 a barrel on the New York Mercantile Exchange, after dropping 3.4% Monday. The declines are pausing a weekslong recovery that powered oil to its highest level since early March. Front-month futures started the year above $60 then tumbled below $0 in late April due to a supply glut.

They have since rebounded in recent weeks with more states and countries easing coronavirus lockdowns and the Organization of the Petroleum Exporting Countries and allies like Russia curbing supply. But now that prices have recovered, some analysts expect large producers to incrementally increase output. OPEC and its partners have extended supply cuts through July, but Saudi Arabia, the de facto head of the group, said it will no longer carry out extra output curbs next month.

For June, the kingdom has cut production even more than it had agreed to under the historic OPEC agreement to buoy prices and compensate for OPEC members who aren't complying fully with the cuts.

At the same time, some U.S. producers are ramping up output, and many analysts are worried fuel consumption will remain tepid because of lingering concerns related to the coronavirus. Plummeting demand and a production feud between Saudi Arabia and Russia earlier in the year led to a surge in global stockpiles that collapsed the market.

"The inventory overhang remains significant and uncertainty remains high for the forward supply and demand outlooks," Goldman Sachs analysts said in a recent note.

Brent crude futures for August delivery, the global gauge of oil prices, slid 1% to $40.40 a barrel on the Intercontinental Exchange.

Analysts were looking ahead to Wednesday figures on U.S. crude stockpiles for the latest gauge of inventories. U.S. inventories have stabilized just below an all-time high hit in 2017, while a drop in stockpiles in China has also relieved pressure on the oil market. A lack of available storage for oil led to chaos in April, pushing U.S. crude futures below $0 for the first time ever.

Still, some investors say it will be challenging for oil to rally from current levels. The number of coronavirus cases continues to climb in many parts of the world, and some analysts are wary of a second spike in cases later in the year after more swaths of the global economy reopen.

Elsewhere in commodities Tuesday, most actively traded gold futures added 1% to $1,722.30 a troy ounce, climbing for the second consecutive session. The safe-haven metal recently wobbled below a 7 1/2 -year high hit earlier in the year. Gold has been supported by lingering concerns about the economy and bets on lower interest rates but hurt by a big move by investors toward stocks and other risky assets.

Write to Amrith Ramkumar at [e-mail]



(END) Dow Jones Newswires

June 09, 2020 10:41 ET (14:41 GMT)

[koetser] 09/6/2020 15:43

sometimes motley get it right.

[atlantic57] 09/6/2020 15:38

allsee i believe tlw is a good buy at these prices.

i am not a fan of motley fool, the articles lack depth and critical information.

[allseeingeye1] 09/6/2020 14:16

Great article, Tullow shares going to be in huge demand soon

[atlantic57] 09/6/2020 14:13

Gab what time are the stats out please

[umitw] 09/6/2020 13:42

It is a risk off day today, all the indexes are down..!

[gbh2] 09/6/2020 13:08

Decisions about oil supply ?

[dbensimon] 09/6/2020 13:00

I suggest u start buying now

[dbensimon] 09/6/2020 12:59

Oil price back up now

[ducky fuzz] 09/6/2020 12:48

To answer my own question BP. also rose at the same time so not TLW specific. Maybe an oil price factor. DF

[umitw] 09/6/2020 12:46

Why the drop from 40p to 33 p I would ask ???

[ducky fuzz] 09/6/2020 12:38

Why the big bounce from 36.5p to 39p in a minute please ? DF

[umitw] 09/6/2020 12:07

Me too. I think 51p is round the corner, it's a matter of time & patience !

[jm65] 09/6/2020 11:43

Same here.
If there's another drop like today's then I'm selling other stuff and putting more in here.

[umitw] 09/6/2020 11:12

I wish I had more funds to buy more today.

[atlantic57] 09/6/2020 11:08

Bear that is a sensible call but short
Term lots of volatility