I know. I am reading these articles saying price did its job. The market clearly shows the future price. The shock is over. So, I start thinking yeah that may be true. Then I remember it's like the valley of doubt but this asset is really is holding value.
I dont see us losing 8 million barrels per day, its more like 3mb/d for March - May and will now increase to 5-7mb/d from June. Before war we had about 15mb/d of crude oil going through. We deduct from that 1.5mb/d still going through today in spite of US blockade. We have temporary buffers i.e. strategic reserve release of 2.5mb/d and c. 1.5mb/d of floating storage. Plus permanent buffers from the Yanbu and Fujairah bypasses which add about 6mb/d. This gives a shortage of 3.5mb/d. But as the temporary buffers go away this will result in 7mb/d shortage.
I feel like an idiot twice: not only have I been holding WTI futures, but I also sold Micron in February for $420.
I sold at $396 kept one share because I am a massicot.
At least you had a cool percentage to look at.
I know. I am reading these articles saying price did its job. The market clearly shows the future price. The shock is over. So, I start thinking yeah that may be true. Then I remember it's like the valley of doubt but this asset is really is holding value.
I dont see us losing 8 million barrels per day, its more like 3mb/d for March - May and will now increase to 5-7mb/d from June. Before war we had about 15mb/d of crude oil going through. We deduct from that 1.5mb/d still going through today in spite of US blockade. We have temporary buffers i.e. strategic reserve release of 2.5mb/d and c. 1.5mb/d of floating storage. Plus permanent buffers from the Yanbu and Fujairah bypasses which add about 6mb/d. This gives a shortage of 3.5mb/d. But as the temporary buffers go away this will result in 7mb/d shortage.
Keep moving. Nothing to see here.