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Oil Barrel prices jump $2.10...biggest one day gain since June 2012

K

Knight_Light

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May 29, 2001
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With the World Bank lowering world-wide growth from 3.5% to just 3.0% yesterday, oil enjoyed their biggest 1 day gain in 2 1/2 years. (Now at $48.48 per barrel)

Wonder if barrel of oil prices finally hit bottom?
 
god only knows, call the white house if you want the answer.
3dgrin.r191677.gif
 
don't go in yet. Dead cat bounce and short squeeze. Nothing goes down in a straight line. If the Saudi intention is to bankrupt the competition, 1 month of price decline isn't going to do it.

That said, I am looking at Jan 17 call options on USO should the price break into the 30's.
 
Originally posted by Boston.Knight:
don't go in yet. Dead cat bounce and short squeeze. Nothing goes down in a straight line. If the Saudi intention is to bankrupt the competition, 1 month of price decline isn't going to do it.

That said, I am looking at Jan 17 call options on USO should the price break into the 30's.
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It's amazing you find time to post on this board, considering you're a billionaire commodity trader who has all the right moves.
 
Not to thread jack, but in other news - I finally got in on the bitcoin thing - couldn't resist the price.
 
Originally posted by KnightedIbis:
Not to thread jack, but in other news - I finally got in on the bitcoin thing - couldn't resist the price.
Click to expand...
Bitcoin is the Beanie Babies of the......wait, are these the teens? WTF do you call this decade?
 
The airlines must be making an absolute killing right now. Fuel is the majority of their operating costs and that entire cost line just got slashed in half and may stay there for at least another 6 months. I held some Delta stock since I fly thsoe bastards enough and it's done quite nicely over the past 4-5 months.
 
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Originally posted by UCFKnight85:
The airlines must be making an absolute killing right now. Fuel is the majority of their operating costs and that entire cost line just got slashed in half and may stay there for at least another 6 months. I held some Delta stock since I fly thsoe bastards enough and it's done quite nicely over the past 4-5 months.
Click to expand...
I thought the airlines bought fuel contracts at a set price in the future? Or was that just what SouthWest used to do?
 
Originally posted by brahmanknight:
Originally posted by UCFKnight85:
The airlines must be making an absolute killing right now. Fuel is the majority of their operating costs and that entire cost line just got slashed in half and may stay there for at least another 6 months. I held some Delta stock since I fly thsoe bastards enough and it's done quite nicely over the past 4-5 months.
Click to expand...
I thought the airlines bought fuel contracts at a set price in the future? Or was that just what SouthWest used to do?
Click to expand...
Correct...believe some other airlines do sign future contracts for fuel...just like you can find at certain corporations in other industries (public works, cities, counties, states, federal vendors, etc...)

Smaller corporations that can't afford/forecast futures are the ones enjoying some major cost savings today...but then again, they get hurt the most when fuel skyrockets up quickly.

Fun Fuel at the Pump Info: 2010 FTC study found that retailers shift prices four times more quickly when the wholesale price of gas climbs than when it falls.showed that gas stations are...something all of us have witnessed (i.e. WTF did prices go up so fast?)
 
Originally posted by brahmanknight:
Originally posted by UCFKnight85:
The airlines must be making an absolute killing right now. Fuel is the majority of their operating costs and that entire cost line just got slashed in half and may stay there for at least another 6 months. I held some Delta stock since I fly thsoe bastards enough and it's done quite nicely over the past 4-5 months.
Click to expand...
I thought the airlines bought fuel contracts at a set price in the future? Or was that just what SouthWest used to do?
Click to expand...
Yep, Airlines are currently paying over market prices for fuel.
 
Originally posted by KnightedIbis:
Not to thread jack, but in other news - I finally got in on the bitcoin thing - couldn't resist the price.
Click to expand...
Dude - why catch a falling knife? Bitcoin is DOA.
 
Originally posted by brahmanknight:

Originally posted by UCFKnight85:
The airlines must be making an absolute killing right now. Fuel is the majority of their operating costs and that entire cost line just got slashed in half and may stay there for at least another 6 months. I held some Delta stock since I fly thsoe bastards enough and it's done quite nicely over the past 4-5 months.
Click to expand...
I thought the airlines bought fuel contracts at a set price in the future? Or was that just what SouthWest used to do?
Click to expand...
SW still hedges on 20% of fuel they buy. It's said that Delta does the same. American is on record saying they haven't hedged on futures pricing since 2013.

So either way, these airlines are still massively gaining from oil price drop.

Plus all of the airlines buy options to cover their risk on the hedge bet. It may not erase all of the risk but it'll cover alot of the loss if oil does what it just did and falls off the table when you've got a hedge bet on at a higher price.
 
Originally posted by Boston.Knight:

Originally posted by KnightedIbis:
Not to thread jack, but in other news - I finally got in on the bitcoin thing - couldn't resist the price.
Click to expand...
Dude - why catch a falling knife? Bitcoin is DOA.
Click to expand...
Been interested in owning some for a long hold. Part of a larger diversification, besides I didn't risk anything I'm not willing to lose.
 
Originally posted by UCFKnight85:
Originally posted by Boston.Knight:
don't go in yet. Dead cat bounce and short squeeze. Nothing goes down in a straight line. If the Saudi intention is to bankrupt the competition, 1 month of price decline isn't going to do it.

That said, I am looking at Jan 17 call options on USO should the price break into the 30's.
Click to expand...
It's amazing you find time to post on this board, considering you're a billionaire commodity trader who has all the right moves.
Click to expand...
You're the Chandler Bing of these boards. I know where you work, but I have no idea what you do other than post here all day
 
Originally posted by Whataknight:


Originally posted by UCFKnight85:

Originally posted by Boston.Knight:
don't go in yet. Dead cat bounce and short squeeze. Nothing goes down in a straight line. If the Saudi intention is to bankrupt the competition, 1 month of price decline isn't going to do it.

That said, I am looking at Jan 17 call options on USO should the price break into the 30's.
Click to expand...
It's amazing you find time to post on this board, considering you're a billionaire commodity trader who has all the right moves.
Click to expand...
You're the Chandler Bing of these boards. I know where you work, but I have no idea what you do other than post here all day
Click to expand...
My day begins at 6 am and the rush period ends around 10 am. I use the rest of the day to catch up on shit.

Shooting the shit here takes roughly 20 seconds per post.
 
Originally posted by UCFKnight85:

Shooting the shit here takes roughly 20 seconds per post.
Click to expand...
So what you're saying is, you've spent 5.8 work weeks of your life here just in posting alone
laugh.r191677.gif


Just messing with you, man - I have no room to talk. I wonder what this means for KL if we used the same 20 sec per post factor. haha

Edit: had to do it, KL has spent roughly 1/4 of a year of his life in just posting to this board. haha. Now, i would think KL's post take longer than 20 second because he tends to do some editing
wink.r191677.gif

This post was edited on 1/16 4:46 PM by KnightedIbis
 
I work at 6 am, 11 pm, weekends, etc. Europe in morning, Asia at night. All else in between.

On travel 40 percent of the time

Ibis- what do you think of the Swiss Franc going nuts? Glad you got out when you did?
 
Originally posted by UCFKnight85:
I work at 6 am, 11 pm, weekends, etc. Europe in morning, Asia at night. All else in between.

On travel 40 percent of the time

Ibis- what do you think of the Swiss Franc going nuts? Glad you got out when you did?
Click to expand...
Sucks to be you.
 
Cheapest gas I could find this week was $2.62 per gallon. This was in Manassas, VA. What's the average in Fl now?
 
You don't use gasbuddy? 2.70 roughly the average here in non poor area Sarasota. Prolly 2.60 in Bradentucky.
 
1ofTheseKnights said:
You don't use gasbuddy? 2.70 roughly the average here in non poor area Sarasota. Prolly 2.60 in Bradentucky.
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No, I'll go ahead and download it (I'm assuming it's an app).

They're building a Wawa right next to my job, which mean I probably will pump there all the time despite price, but that's not gonna be ready for a few months.
 
My commute isn't bad. I go North-South while everybody goes East-West in and out of D.C. I could get better mileage if I didn't drive the Abarth like a fukcing lunatic, but it's hard to resist driving on all these backroads.
 
jetsaholic said:
My commute isn't bad. I go North-South while everybody goes East-West in and out of D.C. I could get better mileage if I didn't drive the Abarth like a fukcing lunatic, but it's hard to resist driving on all these backroads.
Click to expand...

Did you ever get the rear alignment problem solved on your Abarth?
 
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fabknight said:
Did you ever get the rear alignment problem solved on your Abarth?
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Yeah, it was just a case or Pirelli tires sucking ass and dick. I put on Cooper Zeons and the alignment was right on spec without having to tweak anything.
 
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