all eyes on eia report tonight:

The American Petroleum Institute (API) reported a crude build of 1.4 million barrels for the week ended Sept. 9, smaller than the 3.8 million-barrel rise expected by analysts. The U.S. government will issue official inventory data on Wednesday.

jitters, jitters...

asian/european traders, as usual, pushed wti from 44.90 to 45.30 in the day.

now dumping... back to 44.85.

10.30pm... if eia reports >3mil buildup, i'll have fun.

if <1mil, i should go to bed immediately.

i think it will retest 44!

well, sold DWTI mix... avg 88, good enough.


see if any chance to dive back in at 83-84 later.

freefall...

let it fall until near 40.

then we can long.

i think it will take a breather first - 43.50 has good support.



now that it has fallen quite a lot from 48 to 43.50, it gets hypersensitive.

gotta be very mindful of even little news like some bomb or some fire or storm.

or just a few words from saudiman - any of that can get the bulls back in action again.

wti looking very weak.

looks like going to 43 tonight.

it's trying to crawl back to 44!

well, broader market u, dow +100 too.

then again, we'll see after 2am.

short covering got wti back >44 last night.

now... 43.40.

chance it will go <43 tonight.

informative read on USO, UWTI/DWTI.

https://www.bloomberg.com/view/articles/201...oes-a-great-job

here we go. opec talking, pushing up oil price, bulls frenzy!

whether it will lead to anything, we wait sep 27.

meanwhile, fed meeting this week.

can expect some volatility.



Oil prices rose in Asian trade on Monday after Venezuela said that OPEC and non-OPEC countries were close to reaching an output stabilizing deal and as clashes in Libya raised concerns that efforts to restart crude exports could be disrupted.

Venezuelan President Nicolas Maduro said on Sunday that a deal between OPEC and non-OPEC countries could be announced this month.

was thinking to go uwti.

but... just before nymex opens, already gave up 1%.

looks like touch n go, can swing either side tonight.

tough game ahead.

bought a bit at start, 19.00

wti tried several times to get over 44.

will wait closer to 2am, see what happens - whether it will get over 44 or back to 43.50.

confidence for opec action and/or no rate hike lacking.

ok, bought more uwti 19.20.

not expecting wti to go below 43.50.

hopefully ikan bilis at 2.30am.

today's oil rally looks fake!

need another big opec man to say "we make deal" tmrw.

this cramer guy is funny but is quite right.

"sometime sunday morning, the story propagated.... but not much of a fact... venezuela wants higher price, saudi wants higher price... of course they want price higher... but they don't cut, so all they do is talk the price higher...big joke of the morning...".


http://www.cnbc.com/2016/09/18/oil-up-as-v...rs-clashes.html

This post has been edited by AVFAN: Sep 20 2016, 02:17 AM

cramer has more to say!

nobody's buying opec's cry wolf episodes anymore.

so, oil drop and drop.



too bad, i boarded a pirate ship last night.

this is wild...!