NYMEX Crude Oil (Light) ........................121.20 5.64
NYMEX NYH RBOB Gasoline (Globex) ...... 3.0421 .1318
Don’t worry, just a little bump - $70 is just around the corner. Short traders just keep making those margin calls, mortgage the house if you have to. Fortunes await you! PO is for pansies and doomers. At $70 short some more ..... it is going back to $22 .... the world is awash with oil ........ reality has nothing to do with it, its all in those charts!!!!!!!!!!
SELL SELL SELL
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Shares of China Petroleum & Chemical Corp. jumped 9.7 per cent Thursday, a day after its parent company said Sinopec had found more crude oil in northwestern China.
Sinopec, Asia‘s largest refiner by capacity, has found oil reserves of 1.03 billion to 1.5 billion barrels in the Xinjiang Autonomous Region, according to its parent company, China Petroleum Corp.
The news helped lift Sinopec shares 9.7 per cent to HK$8.72 (US$1.11) on the Hong Kong stock market.
The find could raise Sinopec‘s total oil reserves by 15 per cent, and its net asset value by about five per cent, according to Gordon Kwan, an oil analyst at brokerage CLSA.
