NoneTwo things I suspect are currently being discussed and may impact the market
1. OPEC must be thinking about intervening in the oil market one way or the other
2. If I were running OBE I'd be thinking about getting approval for a share buy back. They need approval to purchase up to 10% in the open market. The approval is good for a year. If they expect to hit their 225 million debt target in the next 2 months why not get buy back approval now
3. The extreme increase in energy prices in Europe must be resulting in some massive margin calls - the sort that cause bankruptcy or at least drain all your resources. OBE has about half if narrural gas hedged in the $4s (if I remember correctly). Imagine if Canada had European prices and the market price was $70. That would be a massive margin call on OBE. Now imagine that happening to European producers of all energy - fossil fuel, electricity etc. Now imagine what happens in a defaut. I wonder if some of this is affecting BRENT and WTI prices?