What is primary reason for the recent rise in the price of WTI (up again today, over 2%):
- strength/weakness of the dollar: 12%
- fundamentals (US production declining): 35%
- Russia involvement in Syria: 18%
- market manipulation: 20%
- short squeeze: 12%
- Fed rate / budget deal: 2%
Today at Reuters:
Crude prices rose more than 2 percent on Tuesday as a rally in U.S. gasoline and diesel added support to oil markets already boosted by an industry strike in Brazil and force majeure for Libyan crude loadings.
Brazil production: 13% cut due to labor strike.The production hit comes as Petrobras is particularly strapped for cash.
- 70 / week: 25%
- 56 / week: 23%
- 42 / week: 48%
- Other (20, 25, and 30 per week, each one vote): 4%
- re-work with no "major" activity: 8%
- re-frack: 37%
- drill a new horizontal sidetrack in same middle Bakken target: 16%
- drill a new horizontal to target a different formation in the middle Bakken: 37%
- never completed: 3%
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