26
Oct

Wrap – Week Ended 10/24/14

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Questions under the wrap will be addressed in the Monday post. If you have questions about Zman's Energy Brain please email them to zman@zmansenergybrain.com. 

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8 Responses to “Wrap – Week Ended 10/24/14”

  1. 1
    PackMan Says:

    U.S. Oil Services sector downgraded by @GoldmanSachs from Attractive to Cautious; $HAL $PTEN removed from Conviction Buy List

    ​Goldman also said to be out w/ Oil Forecast report for 2015.  Lowers WTI from 90 to 75 for 2015; Brent from 100 to 85.

  2. 2
    zman Says:

    re 1 – thanks. They turned more bearish in January, and again in July, so not surprising they try to press the trade here. 

  3. 3
    Wayne G Says:

    weren't they just bullish a week ago?

  4. 4
    zman Says:

    re 13 – yeah, but that was soooo October 17th, 2014

    Goldman Sees No Crude Glut as Price Slump Deemed Excessive (1)

    2014-10-17 09:27:34.517 GMT





         (Updates with U.S. shale in eighth paragraph.)



    By Ben Sharples

         Oct. 17 (Bloomberg) — Oil’s collapse into a bear market is

    excessive because there’s no oversupply to justify the selloff,

    according to Goldman Sachs Group Inc.

         The bank is “near-term constructive about prices” after

    they fell too much, too soon, analysts including Jeffrey Currie,

    the head of commodities research in New York, wrote in a report

    e-mailed today. While expectations of a glut have driven down

    crude, the risk of a near-term shortage may increase as forward

    prices of benchmarks including West Texas Intermediate and Dubai

    crude discourage stockpiling, it said.

     

  5. 5
    Wayne G Says:

    Ha, I guess another week of losses thanks to Goldman. I guess they tried to get their guys out last week.

  6. 6
    zman Says:

    … or they want to get them in lower. 

  7. 7
    Wayne G Says:

    ha, yea. 

    Either way, probably another fun week ahead for me. ha

  8. 8
    Baylor Says:

    Since. 1945, there's never been a down mid-term election 4th quarter. Average returns during those 35 or so years (since 1945) in q4 has been 7%. 

     

    Maybe be we see a ramp from mid-November to dec 31st. That's also what happened in 2012 but is not reflected in my statements above as it wasn't an off year. 

    Al gore  said recently that all this oil being drilled will never come out of the ground and sold. I'll try to find the exact quote. I wonder what his time frame was as this far all we've done is to to near 30 year highs of daily production. 

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