I am taking a look at oil on the 4hr chart today and it looks like we are holding onto some of the gains we saw from the attack on the Saudi Aramco oil facility. I really despise war. But I cannot stop it. So why not profit from it? Iran is already telling the world that if there is retaliation they will begin an "all out war" where they target anything that will hurt their enemies (Which is Israel, USA, Saudi etc) This is the perfect recipe for a spike in oil prices. If there is a war oil will likely surpass the 100 dollar mark very quickly and people around the planet will suffer at the gas pumps. No to mention groceries will cost more. There are a lot of things that happen when oil spikes. Like it or not this planet runs on oil. My line of work truly benefits when oil rises. But at what cost? I certainly dont want to see people dying in war just to get overtime at work. But it happened during the Iraq invasion. We had the busiest month my shop ever had during the war in Iraq (it was in the aftermath of the war really but that was the reason) I enjoy talking about politics but the thing about oil is it is so tied to politics if Trump and Iran talk this out, oil will likely drop. Especially if some of the restrictive sanctions are lifted. This is all speculation of course but its interesting none the less. With the middle east on the brink of "all out war" I suspect that the US will be pumping and fracking like crazy to fill the void. Of course the US wont be the only country trying to fill the void. But I expect to see work increase here where I work. We deal with Halliburton fracking projects and other oil companies like Baker Hughes and NOV. If oil gets over the 80 dollar mark that means NOV will get busier as the drill a lot of the oil they get off shore. They have not really given us too much work due to the fact oil is still cheap in the grand scheme and its simply not as profitable to drill off shore at the moment. Drilling on land is where its at currently. But like I just stated, If oil goes up past the 80 -90$ mark I expect offshore drilling to increase significantly. Just keep your eyes on oil. It all boils down to supply and demand :) But WTFDIK?
Here is the latest article I read about the volatile situation in the middle east www.msn.com/en-...tack/ar-AAHwN4R?li=BBnb7Kz...
Here is the latest article I read about the volatile situation in the middle east www.msn.com/en-...tack/ar-AAHwN4R?li=BBnb7Kz...