RE:down another cent as oil goes up And you are transparently obvious in your attempts to drive the price down in order to buy at your entry opportunity.
Its a scary time at present with all the noise about negatives such a China's demand, Biden's manipulations and desperate SPR release potential etc but recession worries have faded, interest rate rises are pretty much done and most of the fearmongering proven worthless.
The news from China is rather disingenuous because gasoline and jet/diesel is robust but the focus is all on naptha/lpg/chemicals due to lower industrial demand. Biden is a wild card but Saudi will stay the course and the Ruskies will give a kidney to poke a stick in his eye plus many third world nations have production issues.
Sanctioned countries like Iran are probably allowed to bypass oil sanctions, (nudge nudge, wink wink) but all in all, the demand picture is more positive.
No one is right and no qone is wrong in their investment strategy in such a volatile environment. GXE is pretty much last on the list to see any rerating joy. It is presently spinning its wheels trading shares between owners for pennies but, either believe in better days ahead or get out.