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Crude Oil Futures - Nov 16 (CLX6)

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48.04 +0.21    +0.44%
30/09 - Closed. Currency in USD ( Disclaimer )
Type: Commodity
Group: Energy
Unit: 1 Barrel

  • Prev. Close: 47.83
  • Open: 47.76
  • Day's Range: 47.05 - 48.30
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Crude Oil 48.04 +0.21 +0.44%

Crude Oil Contracts

 
In the table below you'll find the last, change, open, high, low and previous close for each Crude Oil future CFDs contract. Click on the links column icons (Q C O) for quotes, charts, options and historical market data for each future contract - as well as the Crude Oil Cash. (Price quotes for Crude Oil are delayed by at least 10 minutes, as per exchange requirements).

 

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Latest Crude Oil Comments

teuf teuf
teuf teuf 3 minutes ago
Yes "Matthew May Hit The United States as a Category 5 Hurricane Next Week" weather is bullish..
Nailing TOPS and BOTTOMS
Nailing TOPS and BOTTOMS Just Now
It's going to cross Cuba, onto the Atlantic Ocean and graze by Florida.
Crude Oil Roulette
CrudeOilRoulette 52 minutes ago
Major Resistance: $48.30. -- Major Support: $47.73. -- Weaker Resistance: $48.12. -- Weaker Support: $47.91.
Nailing TOPS and BOTTOMS
Nailing TOPS and BOTTOMS 1 hour ago
I will use nice round numbers for this. KSA pumps 10 mbpd. Since they started talking about a freeze THIS time, the price has gone from $40-ish to $48-ish or +$8. Let's estimate that they take the lions share of the 750K bpd cut and they cut 375K bpd. Just counting the price movement so far, they would lose $3 million on the 375K bpd that they shut in. But the price increase on the 10 mbpd that they will be keeping is $80 million. That's a gain of $77 million a day. Why not cut? Now, say that the price keeps going to $60. They loose $7.5 million on the 375K bpd shut in, but they gain $200 on their original 10 mbpd quota. Using a $40 price they are losing $15 million a day for the 375K shut in. That means they only need the price to move $1.50 on their 10 mbpd quota in order for it to pay. Question, how far do you think the price will move if they get that freeze/cut ratified and established? My numbers may not be the actual ones that come to be, they may actually be conservative.
Nailing TOPS and BOTTOMS
Nailing TOPS and BOTTOMS 58 minutes ago
Oops. Now, say that the price keeps going to $60. They loose $22.5 million on the 375K bpd shut in, but they gain $200 on their original 10 mbpd quota. That a gain of $177.5 million per day!!!!!!!!! CUT for crying out loud.
Nailing TOPS and BOTTOMS
Nailing TOPS and BOTTOMS 35 minutes ago
Hello? Nobody like facts and actual teal numbers? Maybe I should spam to get a reply.
Karl Weiss
Karl Weiss 29 minutes ago
Haha. Your analysis is too smart for most traders here. So dont expect an educated reply. But I have seen a similiar calculation before when price of oil was much lower and OPEC still could not agree to a cut or freeze. Nonetheless price still went up. OPEC especially Saudi may think like your analysis but markets are still very irrational and act on fear/optimism
Robert Cox
Robert Cox 26 minutes ago
Welcome to the world of geopolitics. Your argument, while figuratively correct, fails to account for two major considerations. First, nations like Russia and Iran are in dire need of money. As such, they will pump all they can sell. The higher price simply allows them to make more money to use on armaments and other materials. Second, for every barrel SA cuts, it allows another nation to pump more oil, thereby losing market share. As they cut, the price goes up. As price goes up, other producers come online, pumping additional oil and driving price down. Therefore, to maintain stability, SA would have to further reduce production and their revenues/market share. No nation is going to willingly weaken their own position.
Robert Cox
Robert Cox 21 minutes ago
Your numbers are a bit over-inflated. A 2% cut (the proposal) would result in an increase from $48 to the $49-50 range if based solely on fundamentals. I agree that markets are irrational. If the weren't, oil would be $38 a barrel right now.
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