Bullboard - Stock Discussion Forum Gear Energy Ltd T.GXE

Alternate Symbol(s): GENGF

Energy Oil & Gas E&P

Gear Energy Ltd. is an oil-focused exploration and production company. The Company carries on the business of acquiring, developing and holding interests in petroleum and natural gas properties and assets. Its operations are located in three core areas: Lloydminster Heavy Oil, Central Alberta Light/Medium Oil and Southeast Saskatchewan. The Company is also engaged in focused on improving oil... see more

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Gear Energy Ltd > Largest U.S. Refinery Back Up

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Post by geezer21 on Jan 12, 2023 6:08am

Largest U.S. Refinery Back Up

With largest US refinery back up the large build in oil inventories, which resulted from shut down of refineries due to freezing, will be taken down.

https://oilprice.com/Energy/Energy-General/Largest-US-Refinery-Back-Up-and-Running.html

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Comment by Roscoe747 on Jan 12, 2023 1:53pm

Inventory build is normal at year end. The extra crude build is entirely due to refinery freeze offs. The key signal is if products inventory does not build, it is bullish for oil. Market data is providing conflicting signals and will move very quickly when it does move. The consensus appears to be oil price moving into backwardation in Feb which is a bullish signal. China is the wild card with ...more

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