Posted by ccboperator > 2020-04-20 09:36 | Report Abuse

V have to wait till oil price escalates to 60uSd for max profit or quit b4 May next yr..

Posted by ccboperator > 2020-04-20 09:37 | Report Abuse

I was in d field b4 in Offshore Terengganu.
I q today @6.0 to cost dollar avg..

Posted by ccboperator > 2020-04-20 09:41 | Report Abuse

V hope to c new contracts awarded by other oil majors like like XOM, Shell etc..
For every drilling rig whether at mother or satellite platformd they need this ALAM or its peers to fix anchors etc b4 drillinh starts & after drilling complted. V call it mob & demob of drilling barges(DB) or accomodation barges(AV)
Been in d industry for 31 yrs.

Posted by Will76 > 2020-04-20 09:58 | Report Abuse

Breaking News from Bloomberg

Oil extended its slide, falling to the lowest in more than two decades, on concern the world is rapidly running out of places to store crude after output cuts proved insufficient to cope with plunging demand.

WTI for May delivery fell 16% to $15.37 a barrel on the New York Mercantile Exchange as of 9:16 a.m. in Singapore after plummeting 20% last week. It dropped to as low as $14.47, the weakest since March 1999.

Brent for June delivery fell 1.6% to $27.63 a barrel on the ICE Futures Europe exchange after losing 10.8% last week.

Posted by analiser > 2020-04-20 09:59 | Report Abuse

? now oil prc 15usd already but oil stocks still maintain. who support it

Posted by ccboperator > 2020-04-20 10:30 | Report Abuse

sentiment...as long as inv hols..it will not go down unless u play with margin for collateral to moperate cos....forced to selll ..esp those cos who use margin to survive..never never play margin...golden rule of thumb

Posted by ccboperator > 2020-04-20 10:32 | Report Abuse

if u understand the term....bad news is good news from William R%age chart....fears & panic cause ppl to run....how low can it go?

Posted by ccboperator > 2020-04-20 10:34 | Report Abuse

use to term ...bad news is good news in school..dont actually understand when v were young..but this meltdown taught me a lot of things..

Posted by ccboperator > 2020-04-20 10:37 | Report Abuse

some co. r still ok, call it undervalue once its price has gone down to certain value..i m not a wealth advisor or profs guru...but learnt d hard way....making better analysis & decision each time....

Posted by ccboperator > 2020-04-20 10:40 | Report Abuse

I analyse ALAM historical chart that it had hit 47 sen b4...oil price must b 60 & above i guess then

Posted by ccboperator > 2020-04-20 10:43 | Report Abuse

About 5 - 6 x present value.
My conservative jump is 17 sen...but must b patient
Thats 100% profit ...dont b greedy.Will share later what I got from greedy relatives & frens .

Posted by bigfund > 2020-04-20 14:01 | Report Abuse

Oil prc 14usd . Ready for panic selling soon

Posted by paktua73 > 2020-04-20 15:11 | Report Abuse

done sold big some more at 0.075..
secure back more capital..
lock good profit..
its only tactical step for more abilities to fight later..
left only 30% share on hand from previous holding..


tut tut
wait back below 0.06

Posted by MamakKutty > 2020-04-20 16:02 | Report Abuse

yes sell

Posted by SupPanda > 2020-04-20 18:37 | Report Abuse

Paktua73 done sold big some more at 0.075..
secure back more capital..
lock good profit..
its only tactical step for more abilities to fight later..
left only 30% share on hand from previous holding..


tut tut
wait back below 0.06
20/04/2020 3:11 PM

@paktua73 are sure , last 3 weeks you said jump all in at 0.075. Now said sold at 0.075 lock profit... Something wrong, dont lie lie

Posted by SupPanda > 2020-04-20 18:39 | Report Abuse

Just admit when you sold at lost.. Be sincere ma..

Posted by analiser > 2020-04-20 19:33 | Report Abuse

12 usd oil price. alam tomorror open gap. collect 3c

Posted by Keyman188 > 2020-04-20 20:08 | Report Abuse

WTI oil price big dropped by 38% @ $11.24....dropped by $7 ++ ....

Never seen this level before.....tragedy...

Posted by ccboperator > 2020-04-20 21:45 | Report Abuse

may b 3 sen again...pic up again to cost dollar avg...thats d name of d game

Posted by ccboperator > 2020-04-20 21:46 | Report Abuse

no more storage to keep physical oil...

Posted by ccboperator > 2020-04-20 21:48 | Report Abuse

charter all VLccs to keep d oil but still has a limit..till all economies in all industries open

Posted by lauys96 > 2020-04-20 22:35 | Report Abuse

oil price$10.76
-7.51 (-41.11%)toromo run...run..run

Posted by analiser > 2020-04-20 23:48 | Report Abuse

I think 10 usd is the bottom in history.It will rebound soon. common put in oil commodity.

Posted by paktua73 > 2020-04-21 02:10 |

Post removed.Why?

Posted by mf > 2020-04-21 02:22 | Report Abuse

An oil futures contract expiring Tuesday turned negative as demand for crude collapses

Posted by nich0las > 2020-04-21 02:58 | Report Abuse

Omg, oil price -negative. 1st time saw in my life. Rip.

Posted by digi_three > 2020-04-21 03:07 | Report Abuse

Aiyoo what does it mean oil price is negative?? If I want oil now they pay me money to take the oil? Aiyoo lets get some oil and make money .. kikiki

Posted by Talib > 2020-04-21 03:11 | Report Abuse

limit down. GG

Posted by Cents_investor > 2020-04-21 03:52 | Report Abuse

tomorrow oil counter GG...negative $38, first time in my life saw negative on oil...god bless all the oil counter

Posted by nelson_na > 2020-04-21 04:28 | Report Abuse

technical problem la

Posted by nelson_na > 2020-04-21 04:29 | Report Abuse

technical problem la

Posted by JoshuaMS7 > 2020-04-21 05:00 | Report Abuse

If current oil price keep for 1 - 6 months will alam bankruptcy? Any advise?

Posted by stocksyndicate > 2020-04-21 05:50 | Report Abuse

Not technical problem. US allow prices to drop below 0 because no buyers

Posted by mf > 2020-04-21 06:04 | Report Abuse

The oil industry has never been in a crisis quite like this

Posted by bigfund > 2020-04-21 07:45 | Report Abuse

Negative won't happen. This is only trick to make ppl panic.

Posted by Harold Huong > 2020-04-21 07:53 | Report Abuse

WE are lucky to witness another miracles
US Oil trade at (-value) level
But you know Malaysia have a lot of KAMIKAJI teams
Hope today KLCI trade well

Posted by king36 > 2020-04-21 07:56 | Report Abuse

Oil is cheaper than drinking water!
All oil counters may see big drop.

Posted by Keyman188 > 2020-04-21 08:00 | Report Abuse

Negative Prices for Oil? Here’s What That Means

(April 21, 2020, 5:58 AM GMT+8)

Stores never pay shoppers to take their goods away, but in extreme circumstances some businesses do, though generally in a very limited way. What’s happened in the oil market, however, was a massive and unprecedented negative swing, as the price on some futures contracts for West Texas crude fell to minus $37.63 a barrel. A collapse in petroleum demand from pandemic-driven lockdowns, a price war among the world’s largest producers that flooded the market, storage facilities nearing their capacities and the monthly rhythms of the futures market all played a role in the jaw-dropping development.

1. Why would a seller pay a buyer to take their oil?

For some producers, it may be cheaper in the long run than shutting down production or finding a place to store the supply bubbling out of the ground. Many worry that shutting their wells might damage them permanently, rendering them uneconomical in the future. There are also traders who buy oil futures contracts as a way of betting on price movements who have no intention of taking delivery of barrels. They can get caught by sharp price drops and face the choice of finding storage or selling at a loss. And the escalating glut of oil has made storage space scarce, and increasingly expensive.

2. Where did the glut come from?

Either the pandemic or the price war by itself would have rocked the energy markets. Together they have turned them upside down. As the virus began to spread around the globe, it began eating away at oil demand in stages. But just as countries like Italy showed what kind of damage a national lockdown could do economically, Saudia Arabia and Russia, the world’s biggest oil producers, butted heads. A pact that had restrained production collapsed and both countries opened their taps to the fullest, releasing record volumes of crude into the market.

4. What did futures contracts have to do with that?

The lowest prices came in trades in futures -- contracts in which a buyer locks in a purchase at a stated price at a stated time. Futures are a tool for users of oil to hedge against price swings, but also a means of speculation. The contracts run for a set period, and traders who don’t want to unwind their position or take delivery generally roll over their contracts shortly before expiration. Contracts for May delivery were due to expire on April 21, putting maximum pressure the day before on traders whose contracts were coming due. For them, selling at a steeply negative price was better than filling bathtubs with oil, though the market rout was such that the physical domestic crude market did see trades on an outright basis for grades like WTI in Midland, Mars Blend, Light and Heavy Louisiana Sweet crudes at negative levels.

6. What happened to storage?

Since the glut began to build and prices began to fall, storage facilities have been moving toward capacity. Crude stockpiles at Cushing in Oklahoma-- America’s key storage hub and delivery point of the West Texas Intermediate contract -- have jumped 48% to almost 55 million barrels since the end of February. The hub had working storage capacity of 76 million as of Sept. 30, according to the Energy Information Administration. The industry has been accumulating supply aboard ships, while contemplating other creative options such as storing oil aboard rail tankers. The Trump Administration, which is concerned about the possible ripple effect from oil bankruptcies, is eyeing a proposal, which is still in its infancy, to pay oil drillers to keep their oil in the ground temporarily. The idea would be to keep it off the market until prices recovered, giving the Treasury a healthy profit while protecting producers from immediate losses.


##https://www.bloomberg.com/news/articles/2020-04-20/negative-prices-for-oil-here-s-what-that-means-quicktake

Posted by bigfund > 2020-04-21 08:03 | Report Abuse

Oil free of charge at petrol pump

Posted by azta12 > 2020-04-21 08:47 | Report Abuse

https://www.cnbc.com/2020/04/20/stock-market-futures-open-to-close-news.html

Posted by JokerT > 2020-04-21 09:02 | Report Abuse

0.030c coming

Posted by JokerT > 2020-04-21 09:08 | Report Abuse

oil price negative !!!

Posted by bigfund > 2020-04-21 10:28 | Report Abuse

Looks Alam still maintain.

Posted by bigman888 > 2020-04-21 10:35 | Report Abuse

not cheap enough

Posted by Cojack31 > 2020-04-21 13:52 | Report Abuse

Oil price drop shorterm only. No panic seller.

Posted by ccboperator > 2020-04-21 16:03 | Report Abuse

5 sen is not far fetched if WTI or other blend is 0.0 Zero now!

Posted by ccboperator > 2020-04-21 16:05 | Report Abuse

Pssible to hit 3.0 sen again if oiil lingers for 14 days at 0 - 10.0USD....incredible...
All floating vessels(small & big VLCCs) r chartered @ records rates...

Posted by micsoh > 2020-04-21 16:21 | Report Abuse

Today the future of may is clear stock, that s why u see it drop below negative, if not it store cost is more than the oil price, for June onward the future price is above 30.

Posted by KLCI King > 2020-04-21 17:30 | Report Abuse

After so many years, still so many people depend on crystal ball to look for their future.

Like KYY followers, always look up to his hairy balls for their futures. Lol

Posted by Keyman188 > 2020-04-21 18:10 | Report Abuse

Brent Crude Oil big dropped again by 20% ++...

Now cheapest @ $ 20.73 (-$5.30)......Big sell off tomorrow again...