WTI $91.67 -$1.08, Brent $98.04 -$1.12, Diff $6.37 -10c, NG $3.95 -3c
This could well be one of the shortest blogs on record so scarce is the news today. The oil price continues to drift as reports from Opec say that some trimming of production has occurred from Saudi Arabia, demand is weakening and October sales are down as prices are cut again. Barry spoke to the nation from the White House last night and has firmed up his war in IL, they are not safe even in Syria now which is quite a good way to sort out a bit of action there…
Oil markets have taken this as being even more bearish for the oil price as ironically it may mean less geopolitical worries down the line, Brent is $97.65 this morning. This is particularly bad news for Russia and Scotland….
The oil companies are now wading in to the Scotland independence vote, yesterday BP through Bo said that ‘ the long term interests of the North Sea oil and gas industry are best served by Scotland remaining part of the UK’. They want fiscal stability and certainty which I have mentioned before, the energy industry will be the first place to go to when the independent Government need the money which they inevitably will. Sir Iain Wood has also come back after seeing those ludicrous N54 numbers, he said that ‘reality should take precedence over fantasy’ as the nations future is being calculated on optimistic guesses of reserves. Shell meantime came out in support of him and the No campaign as BvB added his weight to the argument.
I have been saying that investors should look out for Aminex since I met up with new-ish CEO Jay Bhattacherjee a couple of months ago and today there is a very positive statement out on the company. In the Ruvuma are the new seismic data on Ntorya extends the potential of the area with reserves now increased to 2.3 TCF. Also the thought is that it combines with the Likonde prospect and for extra good luck Jay says that there is potential for a liquids play into the bargain. Very much one to keep looking at as with funding and supportive shareholders Aminex looks to be in good shape.
Even the sports news is thin on the ground today. I should mention from Tuesday when Wales came from behind to beat the mighty Andorra 1-2……..
Spurs look like having to play away from White Hart Lane as some dude has put a fly in the ointment, maybe a ground share with the Gooners then…
Yorkshire are in good nick in their game against Notts and could secure the title in the next day or two.
And its so good to see the Invictus Games being opened last night, I wish all the athletes the very best of luck.