morning get ready to short at opening
JurongW ( Date: 09-Mar-2026 18:21) Posted:
Group CEO Francis Chang sells 3 million shares at $0.25 today.
https://links.sgx.com/1.0.0/corporate-announcements/GSD6PJXBQXFRY0NV/877814_HKLH0306.pdf |
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Oil prices: Analysts raise the alarm as crude soars over Iran war
Oil Prices and News
&lsquo Sky is the limit&rsquo : Analysts warn oil prices could surge further
Published Mon, Mar 9 20266:10 AM EDTUpdated 6 Min Ago
Key Points
- Energy analysts warned that there was no limit for oil prices as they rose in response to the war in the Middle East.
- &ldquo There is no precedent for this. The sky is the limit,&rdquo Neil Atkinson, former head of oil at the International Energy Agency, told CNBC on Monday.
- The war is heightening fears of prolonged production shut-ins from crude-rich countries in the Middle East, as the strategically vital Strait of Hormuz is effectively closed.
Analysts warned on Monday that there was no precedent for the surging price of oil, as the Middle East crisis deepens fears of prolonged production shut-ins and disruption to shipments through the strategically vital Strait of Hormuz.
Oil prices were on track for their biggest-ever jump in a single day on Monday, before significantly paring gains, following a fresh wave of U.S. and Israeli strikes across Iran over the weekend. Oil depots were among the targets.
International benchmark Brent crude futures with May delivery traded 12.8% higher at $104.53 per barrel on Monday morning, while U.S. West Texas Intermediate futures with April delivery were last seen nearly 12% higher at $101.76.
Brent futures had climbed as high as $119.5 per barrel earlier in the trading day, while WTI hit a session high of $119.48.
Neil Atkinson, former head of oil at the International Energy Agency, said the effective closure of the Strait of Hormuz is something energy markets had never seen before. Unless something changes very soon &ldquo we are in a potentially game-changing and unprecedented energy crisis,&rdquo he told CNBC on Monday.
Countries across the oil-rich Middle East region have started to scale back crude output.
Iraq and Kuwait have already begun to shut-in production, with analysts warning that the United Arab Emirates and Saudi Arabia may also be vulnerable if the Strait of Hormuz remains closed for a sustained period.
&ldquo Though there are oil stocks around the world, the point is that if this closure of the Strait persists, those oil stocks if they are deployed will be depleted and we are going to be in a situation where, with the oil production actually shut in, in Iraq and possibly in Kuwait and maybe even in time in Saudi Arabia, that we are going to be in a crisis the likes of which we have never seen before,&rdquo Atkinson told CNBC&rsquo s &ldquo
Squawk Box Europe.&rdquo
Asked what this could mean for oil prices, Atkinson replied: &ldquo Sorry, we are getting into the realms of educated guesswork here. I mean, there is no precedent for this. The sky is the limit.&rdquo
Typically, about 20% of the world&rsquo s oil and gas passes through the Strait of Hormuz, but shipping traffic has all but halted through this key maritime corridor since the war started.
G7 emergency meeting
Oil prices came off their session highs on Monday shortly after the
Financial Times reported that finance ministers from G7 economies would hold an emergency meeting on Monday to discuss a possible joint release of petroleum from reserves coordinated by the IEA.
The U.K.&rsquo s Treasury and French government confirmed to CNBC that the call would take place on Monday.
Tyler Goodspeed, chief economist at ExxonMobil, told CNBC&rsquo s &ldquo
Squawk Box Europe&rdquo on Monday that it had been &ldquo consensus last week, and to a certain extent still today,&rdquo that everyone but Russia had &ldquo an interest in normal traffic resuming through the Strait of Hormuz.&rdquo
He added the consensus had been that there was &ldquo abundant oil on the water and some strategic reserves to cover any short-term gap.&rdquo Goodspeed said he was skeptical of this view as the conflict enters its second week.
&ldquo When I think of the probability distribution of possible outcomes here, it seems to me there are many more scenarios, and more probable scenarios, in which the strait remains effectively closed harder for longer than there are scenarios in which normal traffic resumes,&rdquo Goodspeed said.
Production shut-ins
Analysts at Societe Generale, meanwhile, warned that prolonged production shut-ins from Middle East countries &ldquo materially increase&rdquo the risk of restart complications.
&ldquo The UAE is likely the next producer at risk of shutting in output, potentially within the next five to seven days,&rdquo the analysts said in a research note published Monday.
&ldquo Qatar is also vulnerable, though its oil volumes are modest relative to its LNG exposure. Saudi Arabia faces less immediate risk but shut ins would become plausible if the Strait of Hormuz remains closed for a further two to three weeks,&rdquo they added.
possible or not is a big question mark
- transportation and storage (Oil tanker stuck in gulf)
- only US have high reserve
- till the war stop, oil production will keep going lower from gulf as there is not engough to hold it.
can buy the dip if you have the courage, last time oil above 100 dollard RHistradingabove30 cents
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Group of Seven finance ministers will discuss a possible joint release of oil from reserves co-ordinated with the International Energy Agency, the Financial Times reports.
The ministers will hold a call at 8:30 a.m. New York time on Monday, the newspaper reports, citing people with knowledge of the matter. Three G-7 countries, including the US, have expressed support for the strategy, the FT says.
WTI crude oil futures shrank gains to 18.9% after an initial jump of 30% Brent oil futures jumped 20.33% to $111.53 a barrel.
Trump has been under huge pressure to contain the oil price surge, but Washington has so far hesitated to tap its strategic petroleum reserve. Unfortunately for the administration, other floated options, like intervening in futures markets, look even more challenging.
There have been five coordinated emergency oil stock releases by the International Energy Agency, including two in 2022 after Russia&rsquo s invasion of Ukraine.
Sold all at 275 no power. Oil retrance
piscesmonkey ( Date: 09-Mar-2026 13:09) Posted:
Half P/L not bad 😁
piscesmonkey ( Date: 09-Mar-2026 13:05) Posted:
| Sold half 250lots at 275. Another half wait for 30cemts |
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and that oil was bought cheaper by the pump companies...
piscesmonkey ( Date: 09-Mar-2026 12:43) Posted:
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Sold half 250lots at 275. Another half wait for 30cemts
woohoo.. 30 cents coming!
Here come Joker of the day TACO🤣
U.S. President Donald Trump told reporters on Mar. 8 that he " figured oil prices will go up" , but that they would " come down very fast" after the joint U.S. and Israeli military operation in Iran concluded as oil broke the US$100 a barrel mark.
Later on Truth Social, he called Iran a " major cancer on the face of the earth" and that high oil prices are a small price to pay for " U.S.A, and World, Safety and Peace [sic]" .
Oil prices have surged over 50 per cent since the start of the Iran campaign on Feb. 28, as reported by Al Jazeera, with the Qatari Energy Minister telling the Financial Times prices could reach US$150 a barrel.
The Iran War has caused energy prices to spike as the U.S. and Israel target Iranian infrastructure, such as the pictured oil depot in Tehran, while Iran is effectively blockading the Strait of Hormuz and preventing energy exports from other Gulf States.
Image via AFP
The Saudi defence ministry said Monday it had thwarted a drone attack targeting an oil field in the kingdom' s east, near the Emirati border.
LIVE UPDATES: https://en.royanews.tv/news/68196
That why faster sell rex. Forus on RH
TraderBen ( Date: 09-Mar-2026 11:52) Posted:
its 6 cents alrdy!! buy rex from opening make money.. buy rex from opening lose money!
Chansenghoe1971 ( Date: 09-Mar-2026 11:43) Posted:
Divergence between Rex and rh
Delta widening. The difference between evil and saint
RH come on! |
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its 6 cents alrdy!! buy rex from opening make money.. buy rex from opening lose money!
Chansenghoe1971 ( Date: 09-Mar-2026 11:43) Posted:
Divergence between Rex and rh
Delta widening. The difference between evil and saint
RH come on! |
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