West Texas up almost $6 this morning. Based on recent price reaction, if it stays like this NZO should close up 7 or 8 c
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West Texas up almost $6 this morning. Based on recent price reaction, if it stays like this NZO should close up 7 or 8 c
PRICE*CHANGE% CHANGETIME Nymex Crude Future96.955.806.3615:08 Dated Brent Spot92.763.233.6115:37 WTI Cushing Spot96.104.955.4314:07
Oil back in favour, at least for today.
Also natural gas on the rebound.
`Commodities have come off so far that if you want exposure it's a good time to get back in,'' said Chris Jarvis, president of Caprock Risk Management in Hampton Falls, New Hampshire. ``I expect natural gas to be a leader.'' Natural gas for October delivery gained 62.6 cents, or 8.6 percent, to $7.905 per million British thermal units at the 2:30 p.m. close of floor trading on the New York Mercantile Exchange. A settlement at that price would represent the biggest one-day gain since rising 8.9 percent on Jan. 19, 2007.
A decline in gas output from the Gulf of Mexico caused by the hurricanes has slowed the rebuilding of stockpiles for the cold-weather season, Jarvis said.
Macd pick up some nzo roadkill this morning - & you get a 5c discount - with revenues set to double when poo = $200. Fantastic buy.
Check out the NTA on the details section
If only the share price reflected the asset backing;)
It seems to be a worldwide phenomenon:
Surgutneftegaz, one of the largest companies in Russia, was trading Wednesday at just over the value of the cash in its bank account, meaning investors valued its vast oil fields, thousands of employees and other assets as nearly worthless. - International Herald Tribune
The markets are reaching hysterical levels in the way they're swinging around now. Investors are jumping out of stocks and into gold today... who knows what they're going to be doing tomorrow! And meanwhile you can buy shares at the value of cash in the bank, getting all the oil and gas (and coal) for practically nothing...
wow all comodities took a big jump this morning, look at gold :eek:
oil up $5.90 nzo down 2c hmmmm i was expecting to see at least a 5c increase this morning regardless of what happened to the dj
Is someone able to post an updated chart for NZO
It could be one of the new financial paradigms the CNBC talking heads are suggesting will fill the void of leveraged credit. I am going to call it -ve inflation, ie, cash loses value since demand becomes so low that prices fall since supply is so great so less money is needed to buy anything. (time for a snooze, might dream of a world where goods can only be acquired by bartering)