Welcome to the Hyper Bull Cycle of Crude Oil! Target price USD 150 and beyond! Cheers!

Indeed, Brent oil rebounds strongly to USD81+, soon will be USD82+! Goodbye to cheap crude oil! Cheers!

Brent oil back to USD 80.80! Heng, Ong, Huat! Cheers!

Hopefully…

I busy scooping hibiscus secretly via multiple accounts… sh… sh… sh…

Brent oil rebounded strongly to USD81.20 and moving north, huat, huat, huat, in keeping with JPM analysis! Cheers!

Take hibiscus dividends and reinvest again to win big! Cheers!

Brent oil rebounded strongly to USD80.88 and moving north, huat, huat, huat, in keeping with JPM analysis! Cheers!

Brent oil rebounded strongly to USD80.72 and moving north, bullish, bullish, bullish, in keeping with JPM analysis! Cheers!

https://www.bloomberg.com/news/articles/2023-07-20/extreme-heat-across-the-planet-is-no-coincidence

Hot hot hot weather!

Brent oil rebounded strongly to USD80.61 and moving north, bullish, bullish, bullish! Cheers!

Brent oil rebounded strongly to USD80.50 and going up still, bullish, bullish, bullish! Cheers!

Buy hibiscus now or never!

Bought armada 0.54, Cheers!

JPM analysts forecast Brent to US$86 / barrel by the end of Q3, but as inventories are expected to gradually build back in Q4 2023 and into 2024 prices should ease back.

JPM conclude: "in order of preference, we favor natural gas, ags, oil and gold, and maintain neutral stance on base metals"

This article was written by Eamonn Sheridan at www.forexlive.com.

Let’s me start the ball rolling and bought hibiscus at 0.915! Cheers!

Brent oil rebounded strongly to USD80.43 and going up still, bullish, bullish, bullish! Cheers!

Taking MSG will to toxic effects to our bodies such as CNS disorder, obesity, disruptions in adipose tissue physiology, hepatic damage, CRS and reproductive malfunctions! OMG! OMG! OMG!

No wonder my body keeps on rejecting Ajinomoto (MSG) flavoring!

Remember crude oil from hibiscus is pricier compared with Brent! If Brent hovering at USD80+, crude oil from hibiscus should be selling at USD 90+! Cheers!

May THE FORCE be with ALL HIBISCUS COMRADES!

Brent oil rebounded strongly to USD80.41! Cheers!

Let’s witness the breaking of USD 80 for Brent oil! Cheers!

There r many people waiting to dispose the aji tickets! Aji flavoring still making many people experiencing the disgusting thirst!

Who knows it will end up like Genting failing to seal the land deal… hmm…

Brent oil going to break USD 80 again! Cheers!

Brent oil rebounded strongly to USD80++! Cheers!

Brent oil rebounded strongly to USD79.58! Cheers!

'Massive US Oil Caverns' Are Now Empty, Will Take 'Decades To Refill' Thanks To Biden

While it took the Biden administration the better part of six months to drain the US oil supply down to a precarious 20-days of emergency reserves (a 40-year low), it will take decades to refill - if that happens at all, Bloomberg reports.

Stroll through the West Hackberry oil facility on the US Gulf Coast and there’s not much to see: some pipelines and other industrial equipment. But buried deep beneath the surface are storage caverns so massive they’re tall enough to house the Empire State Building with plenty of room to spare.

Thanks to the Biden administration, these reserve sites are sitting half empty.

The Strategic Petroleum Reserve (SPR) now sits at 346.8 million barrels - a level unseen since 1983 - out of a total authorized storage capacity of 714 million.

Perhaps even more noteworthy, the emergency reserves are equal to approximately just 20 days worth of supply - an all-time record low...

Replenishing the supply will be a nontrivial and lengthy process according to experts, who say that a lack of funding and ancient infrastructure will hinder the process, despite the Energy Department's vow to keep buying.

Now that energy costs are back down comes the task of refilling the reserve. That will be a complicated, expensive process. Oil prices are now much higher than when most of the inventory was originally bought — the average price paid for oil in the reserve was $29.70 per barrel, which compares with the current benchmark cost for US crude futures at about $75.

And there’s the balance between needing to buy and not purchasing too much at once, lest the oil market gets spooked and prices jump higher. -Bloomberg

"It would be a very slow process even if you had the money and the facilities were are all in good shape," said John Shages, who previously oversaw the oil cache for the Energy Department, adding "It could take decades."

The depleted SPR also means that the US could be vulnerable to oil price shocks. In particular, during domestic supply crunches, America will be left to the mercy of the Saudis, Russia and the rest of the OPEC+ cartel.

They won't make it past a month in the SPR Transportation is the segment that will be affected. We won't be flying or driving during this time, prices will be astronomical. pic.twitter.com/6arYZdV92f — Julie Wade (@julie_wade) July 17, 2023

The SPR was established in the 1970s after the Arab oil embargo resulted in a global energy supply shock and a gasoline shortage in the US, in which Americans lined up for hours, on designated days, to refill their cars. Decades later, the SPR still serves a vital function, providing a safety net against geopolitical turbulence and potential supply disruptions.

The Biden administration's decision to release oil from the SPR has sparked outrage from Republicans - who have accused the admin of manipulating gas prices before the medterm elections last year in November, and have accused them of having no credible plan to refill the reserve.

"DOE’s mismanagement of the SPR has undermined America’s energy security, leaving the nation more vulnerable to energy supply disruptions, and increasing the ability for OPEC and Russia to use energy as a geopolitical weapon," wrote top House and Senate Republicans in a May letter to the Government Accountability Office, asking the federal watchdog for an audit of the reserve, Bloomberg reports.

The pace of refilling the SPR has been sluggish at best. While the Department of Energy (DOE) plans to replace barrels sold last year, it falls far short of the goal to replenish the reserves to its 2009 peak. Congress's decision to strip $12.5 billion earmarked for reserve oil purchases further complicates the situation - as the DOE is now left with a mere $4.3 billion to acquire oil, an insufficient amount to fully restore the SPR.

Aging infrastructure poses additional challenges. The Gulf Coast salt caverns that make up the reserve were initially designed with a 25-year lifespan. As such, the risk of cavern dissolution increases with each drawdown and refill. Maintenance issues, along with the ballooning costs of the $1.4 billion modernization program, add further strain to the already troubled reserve.

Tyler Durden
Mon, 07/17/2023 13:00

Collected 0.895! Cheers!

Dumb dumb cash out first… for greater opportunities… cheers!

Indeed, Brent crude oil recovers to USD 78.81! Let’s buy up Hibiscus! Cheers!

Brent oil rebounded to USD79.95! Cheers!

Rebounding to USD79.40! All the way to USD 80+! Cheers!

Brent oil rebounding… haha…

Collected 0.92! Cheers!

Let me start the ball rolling… bought 0.925! Cheers!

Old news TauRx, not approved by FDA

VS

State Election with “Green Tsunami”

Place your bet! Haha…

Let’s goreng old news— TauRx, not approved by FDA yet… haha…

Italy experiencing unbearable hot weather!

https://www.theguardian.com/world/2023/jul/15/italy-temperatures-48c-mediterranean-heatwave-hotter

Heatwave hitting many countries from US to Europe and now spreading to Japan… Energy especially crude oil or gas usage will be exponentially higher than ever! Cheers!

https://www.nst.com.my/world/world/2023/07/931395/record-heatwaves-sweep-world-us-japan-europe
14 minutes ago

Haha… Great news! Cheers!

LONDON (Reuters) - Global benchmark Brent crude hovered above $81 a barrel on Friday, with bullish sentiment over U.S. demand bolstered by supply disruption in Libya and Nigeria.

Both the Brent and U.S. West Texas Intermediate (WTI) contracts had risen for three straight sessions and in early Asian trade on Friday, poised to register a third straight week of gains for the first time since April.

On Thursday some oilfields in Libya were shut down because of a local tribe's protest against the kidnapping of a former minister. Separately, Shell (LON:RDSa) suspended loadings of Nigeria's Forcados crude oil owing to a potential leak at a terminal.

The Libya disruption is halting an estimated 370,000 barrels per day (bpd) while the loss from the Nigerian outage is pegged at 225,000 bpd, said PVM analyst Tamas Varga.

With the "market in thrall of a ‘tightening’ narrative", any more outages will push the oil price to levels that not even the most ardent bull would have predicted for the second half of the year, Varga added.

Russian oil exports have also decreased significantly - and if this trend were to continue next week – this would probably drive the price up further, particularly since Russian oil exports are set to be reduced by 500,000 bpd in August, added Commerzbank (ETR:CBKG) analysts.

Both Brent and WTI futures traded flat at 1013 GMT, with Brent at $81.36 a barrel and WTI at $76.89.

Further price support came from Thursday's reports by the International Energy Agency (IEA) and Organization of the Petroleum Exporting Countries (OPEC), predicting that oil demand will pick up in the second half of the year, particularly in China, despite broader macroeconomic headwinds.

National Australia Bank said in a research note on Friday that it expected the OPEC forecast, if realised, "to deliver oil prices well above $100 a barrel", adding that the softening value of the U.S. dollar continued to boost commodity prices.

Cooling U.S. inflation has also given markets hope that the U.S. Federal Reserve could be close to ending its fastest monetary policy tightening campaign since the 1980s.

Meanwhile, Saudi Arabia and Russia, the world's biggest oil exporters, this month agreed to deepen oil cuts in place since November last year, providing further support to crude prices.

Queue sell at 4.72. Please eat my tickets! Haha… taking profits first…

Brent Oil rebounding fast to USD 81.36 now! Cheers!

Brent Oil rebounding fast to USD 81.28 now! Cheers!

Grab hibiscus ticket and watch the “Wagner” show!

One more thing, Wagner troops moved to Belarus and may cause bloodbath around the countries. Both Russia and Belarus governments could not do anything on them as they are not part of Russia or Belarus. Well planned move by Putin! Crude oil price will just hit the ceiling by then!

Why crude oil price rebounding fast? Simple, supply cannot meet the demand!

Grabbed 80% of my tickets below 3.10! Cheers!

Haha… serve you right shortsellers! We r laughing to the bank! Cheers!