Baytex Energy Corp T.BTE

Roller coaster ride with oil

[Trendmaker1]

From $89.50 to $86.50 and back up to $88 and now down to $86.50 who would have thought that oil would have sold off like this today? No reason to panic and sell even though both TSX and DOW are down, I`m wondering if this is a start to a larger sell off in oil

[dllscwbysfn]

lol, I wonder if this is the start to super big rally

[Cobalt]

2 year trendline right here , bulls and bears are fighting it out 

[HighOctane89]

This market is more nervous than a long tailed cat in a room full of rocking chairs , big swings but no direction . Is demand being destroyed ? Will winter demand crush supply ? What happens when the SPR ends ? The SPR is running out of US refinery grade crude and drilling is down in the Permian . You can hear the fuse burning and its unclear how much time is left but the explosion is coming

[Moemoney42]

Agreed Octane.. the whipsawing in crude prices lately isn't for the faint of heart.. and surely triggers some to sell that might not.? Although the day traders and short term traders love this uncertainty, I'd say the facts hold true and will come to fruition within months.. headline trading is certainly not fundamental "fact" trading in my mind..?? But it is what it is.. I'

[HighOctane89]

Yeah its crazy Moemoney , the media excuse factory is still pumping "maybe this" and "maybe that" but one thing is for sure , winter is not debatable , its coming !!!! As you say , time will settle the debate . In the mean time , fear trades are seeing what they can shake out of the money tree without having a branch fall on them . It all seems to be coming down to a game of

[Cobalt]

You keep going on about winter? , spring.

[Cobalt]

[HighOctane89]

And your point is what ? , spring.

[Cobalt]

Oil sells off till spring

[HighOctane89]

This is anything but normal so historic patterns may be misleading , there are many different factors to consider . Take for instance the SPR releases , it was primarily medium sour which directly competes with WCS . When the SPR ends , WCS will be back in demand and that should close that discount gap .

[David01montreal]

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