Hi Terry
Latest news on oil is bearisch .
Prices on spot crude are at levels we haven’t seen in months and we feel this downward movement to the markets will continue,” said Tariq Zahir, managing member at Tyche Capital Advisors. “We wouldn’t be surprised to see crude get to the $90 level and breach those levels until we start seeing the annual destocking of crude oil by companies for tax reasons towards the latter part of December.”
“We can expect quiet trading for the rest of the week but with inventory levels still above the five-year range and technicals being overwhelmingly bearish, the path of least resistance remains lower,” said Richey.
Trading on Nymex will be closed on Thursday for the Thanksgiving holiday. The exchange will hold an abbreviated session on Friday.
Analysts at Morgan Stanley offered a strong argument for a long-term downtrend in crude prices.
I've read something the same earlier.So for CLL another problem to gain some momentum though they have hedge some of their production.I looked to some other producers and they are mostly in the red for some days so CLL is also pressed .Take also the fact that because of the taxation law which we don't have in Europe the pressure on CLL will hold for a while I suppose or we may get some news.
