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What does DB mean?
Most of the report I read indicates refining margin is high. April was up especially for gasoline. Refining margin for May was even higher but June's figure drop but is still above April's refining margin.
Sadly SPC is still receiving cold shoulder unlike marine stock but I still went back in on Monday. The next important news for SPC is the oil inventory report for this coming Wednesday night. So I think we will see some profit taking tomorrow.
many thanks, 007.. !!
btw, I also got a call warrant invite from DB citing that "refinery margins are UP!" (no I will not touch warrant)
now our SPC is a very steady 5.6... !!
Yup...
Looks like SPC will easily touch the precious hugh of 6.05...
Then, many who had held from there all the way down to 4.04,
and then back up to 6.05,
will be very pleased with the market action.
Here it is.
The surge today is more or less expected since the Dow went back up on Friday. So it only make sense for SPC rebound since the drop is not fundamentally driven.
The market correction has eased somewhat with US showing signs of recovery. Though the hike in interest rate will remain a big concern as this will be very negative for the housing market.
Right into the refining business, there are some reports on the Asia refining margin for April and May. The report is good.
A number of institution has taken a more careful approach and reduced their position since last week. With the more positive outlook, I expect the institution to move back in. I do not believe that institution buy into SPC based on oil price. Today's uptrend only indicate the sentiment that I have.
For the above reason plus other reasons not indicated here, I expect SPC to break 5.50 this few days (It already did today). Unless we see a major global market correction, it will not be long before SPC reach $6.
At the rate SPC is rising, it can easily hit the previous high of 6.05...
This time round, if it continuies rising...
It will surely make all the long-term investors very happy... :)
sorry, the pages at the other forum where flying today with spc, only got to post here now, jkbk posted his analysis which was well written, depends if he wants to post it here, i will not cut and paste without his permission.
and to all the loyal shareholders, enjoy the run up to $6 and beyond.
dear Singaporegal,
I think this counter is so weighted by warrants & perhaps other interests that your TA may not apply... I am however convinced by the fundamentals that point so strongly for at least 6.0 with six months..
hi yatlofatt... dato, itu kepercayaan saya : that is my belief, sir...... I am still hanging on, sir....
btw, latest news about Gonu....
Temporary oil price hike if cyclone halts shipping
KUWAIT CITY: Oil prices will soar if Cyclone Gonu halts shipping through the Strait of Hormuz, the route for about a quarter of world crude supplies, but its impact will be temporary if oil facilities remain intact, experts said on Wednesday.
Most oil and gas exports from the Gulf region, amounting to between 17 and 20 million barrels a day, pass through the strait between Oman and Iran, making it the world?s most important oil passage.
?If shipping is halted through Hormuz, I think there is going to be a panic in world oil markets and prices could shoot to as high as 80 dollars, but of course for a very short period,? Kuwaiti oil expert Kamel al-Harami said.
Cyclone Gonu, the strongest tropical storm to hit the region in decades, lashed Oman with heavy rains and winds on Wednesday, as thousands were evacuated from low-lying areas there and in Iran.
?Asian markets are going to be the most affected because they don?t have strategic reserves and they heavily depend on Gulf oil,? Harami told AFP.
A majority of oil exports from OPEC kingpin Saudi Arabia and Iraq, as well as all exports from Iran, Kuwait, the United Arab Emirates and Qatar pass through the strait. But there has been no indication so far of any disruption to maritime activities in the strait, according to transport officials in Oman.
About two-thirds of Gulf oil exports go to Japan, South Korea, China, in addition to India and Pakistan.
Leading Kuwaiti economist Jassem al-Saadun downplayed any far-reaching consequences of Cyclone Gonu on world markets if oil installations remain intact. ?The cyclone is not expected to have any serious impact on oil supplies as the world can cope with some interruption for one or two days,? Saadun, the head of Al-Shall Economic Consultants, told AFP.
?If the cyclone does not hit and destroy onshore and offshore oil facilities in Gulf countries, its impact on the world market will be minimal.?
There will however be an initial psychological reaction if shipping is halted through the Strait of Hormuz, causing some rise in the oil prices, Saadun said.
Oil prices rose on Monday on the emergence of Cyclone Gonu but subsided on Tuesday as fears about the impact of the tropical storm eased. They were firmer in Asian trade early Wednesday as attention turned to the release of US economic figures.
At 10:40 am (0240 GMT), New York?s main contract, light sweet crude for July delivery, was 25 cents higher at 65.86 US dollars a barrel from 65.61 dollars in late US trade on Tuesday.
Brent North Sea crude for July rose 32 cents to 70.77 dollars. Harami said the impact of the cyclone on the oil market would be stronger if it continues for several more days which could force the United States and the International Energy Agency to release some reserves to cool prices.
?But as of now, this scenario does not seem likely because the cyclone is expected to be over on Saturday,? Harami said. afp
http://maps.google.com/maps?f=q&hl=en&q=Qalhat,+Oman&sll=37.0625,-95.677...
Looking at the picture, the cyclone aftermath will be pretty ugly at Oman. The flat plains are going to be flooded.