WTI $101.45 -$1.88, Brent $107.76 -$1.54, Diff $6.31 -$1.54, NG $4.52 -14c
A very quick blog today, I will add to comments on Hunting and Genel after the meetings later or tomorrow. I also note that Quadrise has had a raise, this is very much on my radar and I like it a lot.
The oil price fell as the political risk is diminishing rapidly and the fundamentals are a tad weak, Libya and Japan may be exporting more and buying less respectively and the inventory stats showed a bigger build in crude oil than expected.
The Hunting figures were never going to ‘blow the doors off’ and they continued to show some weakness in well construction due to a challenging Canadian market and continued stock draw. Elsewhere pretty positive, more after the meeting, I remain very happy with my recommendation which I will revisit after the meeting.
A pretty positive statement from Genel with Kurdistan coming right slowly and elsewhere plenty of exploration to boost the upside. As above Genel remains a top pick with scope to really deliver the goods this year and I will look at my valuation later but around $25 a share is pencilled in at the moment.
A cracking oil and gas discovery in the Norwegian Sea this morning and the share price has at long last picked up. Thank goodness for that as us long term bulls were beginning to feel exposed!
A right royal draw last night and precious little to get excited about, would have been ripped to shreds by any of the class acts in the competition.
Finally won the cricket series but very nearly gave it away, what was Bresnan doing bowling short pitched rubbish..?
Sorry for such a short blog, on the move to meetings…