Oil futures inched closer to the psychologically important level of $25 per barrel on Wednesday, with U.S. crude touching its lowest since 2003, as a global supply glut bumped up against bearish financial news that sparked deeper worries over demand.
U.S. crude oil dropped more than 5 percent in early trading to trade down $1.54 at $26.92 by 10:56 a.m. EDT (1556 GMT).
The contract settled down 96 cents, or 3.26 percent, in the previous session.
"You need the low price to slow down shale much faster," said Bjarne Schieldrop, chief commodities analyst with SEB in Oslo. He added that a "very broad-based sell-off across assets and across the world" would amplify pressure on oil prices. "With oil being fundamentally weak, it should be moving down even further."
Not sure if they still have projects to do given the current oil prices...moreover it's better to take the cash elsewhere (buying another stock) to earn back the losses...
Waiting oil country release a good news again or financial status of company. Anyway, deleum have very good fundamental. No need worry. And no more bullet too. For those who sapu at 0.92 - 0.94 can have very good new year ang pow.. rejoice
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
Sapphire
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Posted by Sapphire > 2016-01-20 09:32 | Report Abuse
0.99???