I heard on the radio today - the US will be banning Russian oil -
Ticker: NRT (North European Oil Royalty Trust) involved in Germany
Desc:
North European Oil Royalty Trust, a grantor trust, holds overriding royalty rights covering gas and oil production in various concessions or leases in the Federal Republic of Germany. The company has rights under contracts with German exploration and development subsidiaries of ExxonMobil Corp. and the Royal Dutch/Shell Group of Companies. It holds royalties for the sale of gas well gas, oil well gas, crude oil, condensate, and sulfur. North European Oil Royalty Trust is based in Keene, New Hampshire.
Optionable: Yes, but low volume and OI
Good find! This isn’t traded on RH fyi for anyone looking into this but is on Fidelity (and I’d imagine the other “legacy” brokers have this also)
Want to add the float is 8M, so please be wary of any retail pumps.
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This obviously won’t go anywhere, but could be short term bearish for individual oil stocks. XOM and CVX were specifically mentioned.
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I got a little curious about the distinction between WTI and Brent crude oil today. I don’t want to play commodities again without really understanding which ones are covered by which ETFs and all that (which was a mistake I made with WEAT). I also saw some folks in trade floor today asking questions about Conq’s choice to play BNO (which tracks Brent crude) instead of other oil ETFs.
I thought I would share this article which summarizes the differences between WTI and Brent and gives some indication that Brent would be more strongly affected by continued disruptions to trade in and around Europe, since it is produced in the North Sea and has historically shown greater price sensitivity to major geopolitical events in Eurasia.
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Caught the following assessment in my feed today, matches my own opinion that the selloff on oil (and buy in on SPY) is related to optimism from the market on Ukraine and Russia tensions easing. I’m liking the term “risk premium” and definitely think we’ll be seeing that come back here over the course of the next few days.
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Potentially a swing play?
Tmr USO might hit 77. I’m gonna wait until it hits bottom channel to buy calls however.
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I would like to suggest/request this topic be archived and we consolidate some of these broader oil threads to one OIL - Futures & ETFs Discussion (this one is the latest).
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Reuters: Shell raises Russia writedown to as much as $5 billion.
Shell shares were down 1.2% at the start of London trading.
https://www.reuters.com/business/energy/shell-write-down-up-5-bln-after-russia-exit-2022-04-07/
Good article by Doomberg today on LNG. Not sure if anyone else gets these emails but they have gems from time to time.