Whitecap Resources Inc T.WCP

Oil Price

[Olliethegoalie]

Oil price took a substantial drop around 9:00 am. Anyone know why?

[baranja]

good old monkey hammering by our futures market friends.

[Citizen13]

End of driving season. China is in deep deep doo doo and lying to the world about just how bad things are . Nobody doing anything about Iran . I sell high value machinery and we are in a major downturn and usually a canary in the coal mine for the rest of the economy . Its so bad it reminds me of 2009 . Finally , most people AKA 50% of North Americans dont have $ 500 in their bank accounts and

[baranja]

load of BS!  And All of that, mr."Market" figured it out at 9:00 AM sharp and decided to sell oil futures contracts..  but at 8:55 AM all was good.

[jleer42]

It's because there has been some confirmation OPEC+ is still bringing back barrels to the market in Oct.   https://www.reuters.com/business/energy/opec-likely-proceed-with-planned-output-hike-october-sources-say-2024-08-30/

[Anschutz]

That may be some of it... however the speculation about Opec increases was being talked about in the media almost a week ago.  Perhaps a factor, however not the sole reason.  Still looks to me that the powers that be want oil lower to help the democrats win.  Starting next week we will see more traders, analysts and algorithm programmers back at work from summer break.  Lots

[meritmat]

I hear ya man.  Something does not smell right 

[Playacar]

You are so right a bout the feds.   First they wait until inflation is over 8 percent before addressing the issue.  Again they are too slow to address the down turn.  

[jollynik6]

Same BS Here, The US and Canada Should Put There Citizens First , Let Other Countries Solve There Own Problems, The Ukraine Has Always Been Known as a Corrupt To The Core Country ,And The Billions Biden Is Giving Them Should Be Money Spent On US Citizens,Trudeau Is No Different And This Will Be His Last Term, It Seems Like The US is Determined To Start WW3, We Have a lot of Homeowners Having A

[Citizen13]

Yep.   Any even incompetent economist should have known the combination of dramatic supply chain issues during COVID and the injection of billions/ trillions into the economy by the government would 100 % probability bring on out of control inflation . They actually said that this would be a non issue and " transitory " ,   My goodness how can you be that naive and incompetent

[DivChase]

This post has been removed in accordance with Community Policy

[jollynik6]

Citizen13  How right you are, They have No Clue,As I told our Member ,The Reason Companies Can Not Find Help And Have To Bring In Workers From Asia(  Who By The Way Are Great Employees,Is Because When  YOU PAY PEOPLE TO SIT ON THERE AZZZES THAT IS EXACTLY WHAT THEY WILL DO, As Far as The Dental Plan ,Well What Crackpot  Thought Of Giving All Canadians Free Dental, I agree kids

[Anschutz]

I think the stupidist plan or a strong contender is their pharmacare plan. I learned this week that with funding needed for free birth control, health plans are pulling funding from other areas. Diabetics will need to find something other than Ozempic as pharma plan has pulled funding. Essentially the Trudeau/Singh government want to reduce births and increase medical issues among diabetics. But

[Diligent2]

Apparently rumor has it that opec+ might be gradually retracting oil production in fall.