Investing: Sasol

Tun@

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Saudis Surprise Oil Market With Big Unilateral Output Cut​


  • (Bloomberg) -- Saudi Arabia surprised the oil market with a large reduction in its output for February and March, carrying a greater burden of OPEC+ cuts while other producers hold steady or make small increases.
    The kingdom will make an extra cut of 1 million barrels a day, said Saudi Energy Minister Prince Abdulaziz bin Salman. That more than offsets the combined 75,000 barrel-a-day increase Russia and Kazakhstan will be allowed to make in each of those months. The rest of the group will hold output steady.
    “We do that with the purpose of supporting our economy, the economies of our colleagues in OPEC+ countries, to support the industry,” Prince Abdulaziz told reporters after the group’s video conference on Tuesday.

    The Saudi pledge makes for a tighter market than traders had been anticipating and sent crude surging to a 10-month high. It shows how worried the kingdom is about the impact of Europe’s resurgent coronavirus pandemic on oil demand, but also its determination to avoid a new price war with Russia.

 

Tun@

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Brent crude in gold colour vrs SOL.
SOL been dragging its feet for a while .

SOL_BRENT.JPG


I guess oil don't have its debt problems tho
 

Tun@

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Oil Market Gears Up for $9 Billion Index Buying Spree​


(Bloomberg) -- Tens of billions of dollars worth of commodity investments are about to be switched around in a move that’s set to cause a wave of oil-futures buying.

While the move happens every year, crude’s 20% decline in 2020 means that the value of oil index investments has been far below its target for months. As a result, as much as $9 billion of oil contracts could be purchased over the five days of re-balancing that start Friday, according to Citigroup Inc., at a time when the market is already surged to 10-month highs.

RBC Capital Markets estimates that there will be about 80,000 Brent and West Texas Intermediate contracts bought during the re-balancing.

“This buying pressure across the complex should serve as a tailwind and help fortify the improving oil market sentiment,” RBC analysts Helima Croft and Michael Tran wrote in a note.


I don't understand that too much but is it saying its likely Brent + WTI is likely to see some upward pressure yes?
 

Magnum

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Sol up like 24% in 2 days? good thing I got out of Harmony a while back and came back to Sasol. $$$
 
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3rd excellent day for SASOL in a row!
 
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Tun@

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Think it would have been better today if that index gap had of closed.
Was wondering if you still had yours or got rid of them - sounds like you still have.
 

SyntaxError

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Should there be a hard lockdown, who will be selling? Both my SOL & SSL have been doing very well but I wouldn't mind dumping and buying back sub R90, unlike the last dip I missed after it hit the prices we seeing now.
 

Tun@

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I am heavy prepared for another big fall session!

I think it will break R180 but this j203/all share gap needs to get closed 1st.

j203_jan7.JPG


Oil's risen quite a lot since market close so if that holds thru till monday maybe SOL could gap up too which might reduce it falling too far from where it is now. Guess we find out monday.
Brent was 54.25 - now 56.25
 
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Tun@

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sol_22_1_21.JPG

Pick a number!
I'm hoping 156 in white but with the market heading south i'm not so sure
 

kombi-man

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Decided to bail on Friday. What are your thoughts? is it going to drop a lot more, or, is it going to go higher?
 

Tun@

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Decided to bail on Friday. What are your thoughts? is it going to drop a lot more, or, is it going to go higher?

I'm still expecting it to bust that 180 level,I think it will hold at either 156 or 151 but that's only my thoughts which could well be wrong.
Safest call will be whatever level its at once that gap gets closed on the index i think, index to 62990 , now at 63900.
Atm i think it has shorters crawling all over it.
 

Tun@

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Oil is sitting in a pretty interesting spot at the moment

brent jan 21.JPG


brent jan 21 short.JPG


Shorter term chart looks to me like its loading up to have a go at breaking that resistance level
 

Tun@

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sol_jan28_2.JPG

Free again..., Index gap also closed so hoping for some up action.
Got myself in too early thinking yesterday it was done
 

Tun@

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Gapped up on news

sol_29jan.JPG

Spent the day procrastinating whether to sell it on the plan that it will close its gap so i could buy it back at 152 area or whether its not going to fill the gap.

sol29jan2.JPG

Much smaller gap back on the 6th but it never filled it as there was price action there 2 days previous.

This current gap also has price action covered a few days previous so decided to hold.
Dunno if that's the right or wrong decision.

SENS there
 

Tun@

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Looks like that June 184 high is going to get tested out today....
 

Tun@

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June high taken out.......185 now......Might be a bit of an ask moving far from here with it already 10% up for the day tho.
Guess tomorrow is another day. Nice move up
 
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