RE:RE:RE:RE:OPEC+ meeting canceled, sending oil prices climbing higherSILKOS - Case In Point : Take a look at the price of WTI today. At 11:20am it's down 1 and 1/2 % to 74 dollars. If ENB isn't infulenced by the price of WTI, why is down 1 % today ???? And for that matter, why are all the other pipelines also down today, they down't "own" any oil either. Think about it.
This is a perfect example of ENB being dragged DOWN by the price of WTI, yet with the climb of WTI to 76 a barrel, ENB didn't even come close to rising a fraction of what WTI did.
When WTI drops, bet your bottom dollar ENB will too, but when WTI rises, don't for a second think ENB will follow suit. The past 18 months are proof positive of this.
Fiddy wrote :" SILKOS - I'm just saying that when ENB was at 57 in Feb 2020, WTI was only around 53. Although not based on WTI prices alone, I would assume that if WTI is where it's at now ( 43 % higher than it was in Feb 2020) - then I don't think it's a stretch that ENB should have gained at least HALF that much from the Feb 2020 share price.
A 20 % gain from 57 bucks would put Enbridge at about 68 a share.
Although ENB doesn't "own" any oil, it does get dragged along with the price of WTI, although the downward drag seems always to be more pronounced than the upward pull."