Whitecap Resources Inc T.WCP

WTI

[iMAnewBE]

I keep reading there is a 30$ war premium to to oil.  LOL. 
That would put todays oil price at only 60$.  ????  Is this because of the SPR release every day.  I'm so confused about this sector. Does anybody have any clarity on this, or are you all just as confused as I?

[Nadia6519]

Kuwait Petroleum Corp.'s Sheikh Nawaf Al-Sabah said that on Bloomberg TV back in June.  In that same interview he said that the energy market was going to be tight for the 3 to 5 years to come. To my knowledge, noboby else came up with a similar opinion (30 $ dollar premium) since then.   Have you found anything else on the same topic?  Thanks for letting us know.

[iMAnewBE]

Nothing recent.   Maybe last mention of it was about a month ago.  I sure hope it's not true!!!!!!   Thx

[baranja]

Nobody on the planet will sell a drop of oil for US dollars any more. They are sick and tired of this rigging. That would mean the end of petrodollar and USD as reserve currency and massive shortages of oil in the West.

[pinecone11]

baranja says >Nobody on the planet will sell a drop of oil for US dollars any more. They are sick and tired of this rigging. That would mean the end of petrodollar and USD as reserve currency and massive shortages of oil in the West.< From what I've been told, oil isn't sold by the drop, but by the barrel. I assume that a full barrel contains many, many drops of oil. If oil were

[BigJake]

There was a $30 premium when oil was at $120 but that is all gone now, the premium never made any sense because Russian oil never left the market only being sold to different customers, supply and demand remained the same. SPR release is barely balancing the market if that, volatility will remain until the midterm elections but overall shouldn't stay at levels much lower than this for

[iMAnewBE]

Thx for that!   Seems logical!  I admit I'm starting to rethink my investments in oil and gas companies.   I'll hold on till end of the year and reassess.