dChan
Anonymous ID: 02bab4 Nov. 22, 2023, 9:18 a.m. No.19959314   🗄️.is 🔗kun   >>9492 >>9507 >>9741 >>9831 >>9832 >>9866 >>9884 >>9903

WTI Holds Losses After Large Crude Build, SPR 'Refill Plan' On Hold For 7th Straight Week

 

(They are gonna cut no question and they need time to figure out how much so they don’t keep having to do it-been predicting this for many months because the media has been in denial about the true impact of demand destruction-we’ve been in a -10% a year drop in GDP (reality not reported fake #s) ever since 2020…the lack of crude demand proves it since the latest Middle East bullshit couldn’t even get it to $100-not even close and the SPR….well that speaks for itself cuz it’ll keep dropping until the OPEC meeting is done-fuckin’ fill it NOW you stupid DOE BIOTCH)

 

Oil prices are down hard this morning after OPEC+ postponed its meeting amid Saudi dissatisfaction with other members’ oil production levels.

“I think we need a cut,” Pierre Andurand, the renowned oil trader and founder of Andurand Capital Management, said in an interview with Bloomberg television earlier on Wednesday.

“The Saudis will probably want the other countries to cut as well, so I think it’s going to be a negotiation.”

The situation for oil bulls was not helped by a massive crude build reported by API last night.

 

API

  • Crude +9.05mm (+100k exp)

  • Cushing +640k

  • Gasoline -1.79mm (-600k exp)

  • Distillates -3.51mm (-600k exp)

DOE

  • Crude +8.70mm (+100k exp)

  • Cushing +858k

  • Gasoline +750k (-600k exp)

  • Distillates -1.02mm (-600k exp)

The official data confirmed API's big crude build (though a small bit lower) (and a build at Cushing) while Gasoline stocks rose in the official data (versus drawing down from API). This is the 8th straight weekly draw for Distillates stock

 

The SPR remained flat for the seventh week in a row - despite being at prices where the Biden admin said they would refill. US Crude production was flat at a recod high 132.mm b/d once again while the trend in rig counts continues lower. WTI was trading around $74 ahead of the official data and barely moved on the print. Meanwhile, although gas prices are down significantly from their summer highs, we note they are still 21% above average for Thanksgiving week.

https://www.zerohedge.com/energy/wti-holds-losses-after-large-crude-build-spr-refill-plan-hold-7th-straight-week

 

https://tradingeconomics.com/commodities

 

Stocks up again of course and if energy wasn’t getting crushed they’d be much higher cap 3-gotta make sure people spend money on Black Friday so up they go

Anonymous ID: 02bab4 Nov. 22, 2023, 9:55 a.m. No.19959472   🗄️.is 🔗kun

Toshiba Shareholders OK Stock Delisting(going private after 74 years)

 

(This all started back in 2015 with serious accounting issues so rather than fix them they’ve gone through so many mgmt changes they just decided to remove the public reporting aspect of it

 

Toshiba Corp. shareholders at an extraordinary general meeting on Wednesday approved steps necessary for the company’s stock delisting. With the approval, Toshiba will go private on Dec. 20, bringing an end to its 74-year history as a publicly traded firm. “By creating a stable shareholder system, we hope to dazzle the world once again with our innovative technologies,” Toshiba President Taro Shimada said, voicing confidence that the company will be able to achieve this goal. Some shareholders asked questions about future management plans, while others voiced their hopes for possible stock relisting.

Responding to calls from shareholders on the company to continue taking good care of its engineers after the stock delisting, Shimada said, “I’d like to strive to achieve that.”

The general meeting, attended by 123 shareholders, ended after less than an hour. Since its accounting irregularities came to light in 2015, Toshiba has faced a management turmoil.

Aiming to achieve a business turnaround under a stable environment, Toshiba decided to go private through a tender offer by a consortium led by investment fund Japan Industrial Partners Inc.

The tender offer that began in August ended in success on Sept. 21, with the consortium gathering tenders from 78.65% of Toshiba shareholders.

 

https://japannews.yomiuri.co.jp/business/companies/20231122-151014/

 

It’s largest shareholder is:

 

Mitsubishi UFJ Trust & Banking Corporation

 

(A zaibatsu bank-family mafia basically and largest bank in Japan by assets under mgmt (AUM) and market capitalization)

 

https://www.mastertrust.co.jp/english/corporate.html

 

But Blackrock also a big shareholder-@5.21% as of March 4th of this year-through the trusts listed in above link

Anonymous ID: 02bab4 Nov. 22, 2023, 10:20 a.m. No.19959563   🗄️.is 🔗kun

So ‘negotiating with terrorists’ is ok nao?

>fully aware of who controls this all so spare me the flamage

But it wasn’t acceptable before?