RE:hopefully we get a lift over $3 USD here soonorlandofl wrote:
we are getting a little bump - I think a lot to do with hurricane florence, but that can easily be reversed next week or the week after - I believe that the storm is expected to hit around Friday so probably not until next week before a reversal if there is a reversal
bottom line BTE is still way too low regardless
it appears that we are still going to be range bound for some time
I don't know that sanctions will be enough with OPEC adding to supply to move wti over $75, which would be a huge plus for BTE and other oil companies - not sure how we get to $80 wti - would love to see it
Remember that in the Permian Basin BTE gets LLS pricing which is closer to Brent.