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Hahaha... I now beginning to think there are majority of them lack analytical skills. I am no certified financial analysts but I based my price actions on the fundamentals.
Crude oil price is now at elevated level around USD 100 - 110. Addition to that, US currency is also getting stronger and will remain elevated for quite some time USD1 = MYR4.35
No of Covid19 cases in Shanghai has shown signs of decreasing. Economic activities will pick up soon. Summer holiday is around the corner.
world wide demand in general will drop when usa hike interest rate...and policy to stabilise commodity prices to prevent demand destruction is on going...but u will see the side of the coin u convince yourself to see...what is your average price in hibiscus now, nazr?
market already know what next fed interest rate is. its 50 point basis. Many sees Fed Interest rate hike is behind the curve which means its too late now. The only way to stop inflation is US has to withdraw confrontation head on with Russia and stop funding Ukraine.
Rather than spending USD300bil to support Ukraine until Sept, US can instead use that money to purchase crude oil reserves for the world. But that not what they have in mind. US would love to let you starve than admit defeat.
Nice try Chee. My average price for hibiscs is 1.214. I have long term investment and i also do short term and intraday trading to protect my investment.
O. I also breed tilapia for my own consumption and cook as well dishes like wan tan hor and etc.
u try to hard on this politic topic...the truth is always between the lines...if your thought can change leaders, u r at least msia big heads in ministry department...but u like to exercise your freedom of speech...
In PRC, there are two big oil company.1. CNOOC 2. Sinopec
i would go for Sinopec. I like PRC. They are now have emerged as world power. There is nothing they cannot do e.g. inter space travel, space station, EV (NIO), Yuan, CIPS (Swift equivalent) and a whole lot more
Yeah lar.. All run already.... From comment sector ; )
Anyways... When drop a bit then got many comedian came out to make show.... Lazy to follow the comments already.... Which counter no up down 1? 1st time in stock market?....
Rumours US depleting reserve to press down oil price... But they can't keep up for long. They knew that, must hike rate fast to curb inflation. Few months for discount
Here is the problem. Russia supplies 3mil barrels per day crude oil to OPEC. World short of 3mil barrels a day. No other country can fill in that short. Not even USA. Price will go up initially upon enforcement because refineries can only offload Russian oil if oil tankers/traders can show proof that they bought at a price lower than the price cap.
There is nowhere in the world refineries can get 3mil barrels per day. Demand is high. Price goes up well beyond USD100 boe.
Russians only sells their crude oil to its friendly countries e.g. PRC, India, MidEast & Venezuela. Russia has no problem shipping their crude oil to any countries actually because Russia can insure its cargo using Russian insurance companies. Also Russian can ship their cargo using their own oil tankers because they can register and get shipping classification locally or using India Shipping Classification Bodies. Russia sells cheap slightly over USD75 - USD85 boe. PRC buys Russian oil in Yuan.
India buys Russian oils in Rupee. PRC and India uses their local SPIEF payment for SWIFT replacement. MidEast uses UAE and Dubai accounts to pay Russia.
There is one small problem. Many countries will have a shock of their lives in oil prices. Poor and developing countries may revolt and this can lead to civil unrests. Just like when USA stopped supplying crude oil to Japan in 1939. That leads us to WW2.