Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

PENN WEST PETROLEUM LTD. T.PWT

"Penn West Petroleum, based in Calgary, Alberta, is an independent Canadian energy company focused on the exploration and production of oil and natural gas resources in Saskatchewan, Alberta, and British Columbia. At the end of 2015, the company reported proven reserves before royalties of 208 million barrels of oil equivalent. Daily production averaged 86,000 barrels of oil equivalent in 2015, at a ratio of 69% oil/31% gas."


TSX:PWT - Post by User

Post by makedonkaon Jun 28, 2017 10:13am
156 Views
Post# 26413295

Warning of violent oil rally

Warning of violent oil rally

LONDON (Bloomberg) -- On the surface, the oil market is getting worse and worse: there are now more bearish bets on benchmark Brent crude than at any time in at least six years. But to many traders, that’s a signal prices are vulnerable to a sudden, sharp rebound.

Oil’s ripe for a so-called “short-covering” rally -- where traders who sold contracts hoping to benefit from falling prices buy them back to take profits or avoid losses. Short positions held by speculators in Brent rose to 169 million barrels last week, the highest since records started in 2011, according to exchange data.

“The market is vulnerable to a very violent short-covering move,” said Thibaut Remoundos, founder of Commodities Trading Corporation, which advises on hedging strategies."

https://www.worldoil.com/news/2017/6/28/oils-record-bearish-bets-prompt-warning-of-violent-rally

<< Previous
Bullboard Posts
Next >>