ZT

Andy why do you think oil hasn't sold off with all the shale over production? To me it's only a matter of time for opec and Russia start cheating like they always do. I'm sure the Saudis will stay in line until they go to the market. But still oil everywhere.

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@r appreciate your question on Oil. Brent & WTI have had support due to the temporary closing of pipelines we have seen internationally (Europe, Nigeria, etc.), the dollar weakening slightly, & geopolitical tensions (North Korea, Trump naming Jerusalem the capital of Israel, etc.). One would think that Oil and NG would trade in unison but that is actually rarely the case in terms of correlation.

I agree with you that it is only a matter of time that cheating commences and the OPEC deal is rendered useless. Saudi Arabia is still trying to pursue the ARAMCO ipo-so they will do anything they can to keep Brent above $60-i.e. hint at starting a war with Iran (My personal opinion is that they don't have the guts to start a war with Iran without USA support). Oil is definitely due for a pullback-especially since demand will dwindle until March. I live in Texas and most of my friends and colleagues see E&P companies making a killing over $45 a barrel now. Far better than the $80 a barrel we saw in 2014. The Oil market will likely get flooded again very soon.