Gear Energy Ltd T.GXE

API teports 2.7 millions drawdown again ..

[JTDOUBLE]

In spite if 1.6 SPR released.. 

EN might have weight in his thesis of 90-100 bucks May or June!!

[bonjovi501]

Eric has been preaching $100 oil forever........one day he will right

[lashing]

Its been just around the corner for a year and a half how

[Roscoe747]

The problem is that while logic dictates that the SPR is too low for further sales, logic is not involved in political decisions. Biden may empty the SPR if it helps his reelection chances and/or the US decides to give OPEC (read SA) a flea in their ear. Logic also dictates the US decision to postpone SPR refilling and refilling over several years to be risky. Higher $US values due to inflation

[lashing]

Eventual actual oil suppy will tell the story but the politcs behind all this is immense. Between Biden and the blackrocks ....... this is carry on for awhile. 

[Roscoe747]

Yes and this manipulation is driving capital out of the oil and gas sector as investors are afraid of catching falling knives. It may be a while before market fundamentals overcome manipulation. All indications point to renewed demand expansion but the 'recession' fearmongering is louder than the demand growth indicators for now. Refinery utilisation is up to 91% as refiners build product

[JTDOUBLE]

Small retails players are out .  Institutional are bulking up their positions on oil in gas .