Baytex Energy Corp T.BTE

Hard to believe that oil is still down

[Tradinghands]

Last weeks FED sure rattled the markets and we're still paying for it until the FED gives renewed hope of rate cuts and with the tensions in the Middle East going sideways the market is looking for the next reason which could be just around the corner. We've been here before and survived.

[Cobalt]

Trumps win starting to be priced in, drill babby drill, not many bid traders would want to be long into that as his lead widens.

[liljohnnyjoke]

And when the shale drillers and GOM go all in on drilling OPEC will dramatically increase output and "flood baby flood" the market with oil to drop price below $50 to cause them financial hardship deja 2014.

[robert41]

There won't be any drill baby drill especially at $75 oil the companies decide that not trump. If oil is $75 to $85 it won't matter who's in the White House it's an oil price that most are happy with.

[Cobalt]

Maybe maybe not but markets move on percepition, you can also turn a proffit at $40 oil so many will.

[robert41]

They would have been drilling like mad already and they haven't 

[Cobalt]

Ya the left has not made it harder at all, you right

[robert41]

From what I can tell The left has not got in the way of Bte or others drilling on their properties 

[Cobalt]

Nucor Steel has experienced a slowdown in hot rolled steel production, which many view as an early indicator of an economic downturn. This perspective is reinforced by the numerous companies facing difficulties this earnings season due to softer guidance, highlighting the concern of a slowing economy among traders.

[Kelvin]

https://fortune.com/2024/05/05/economic-outlook-hard-landing-recession-fed-rate-cuts-forecast-citi/