RE:STRONG WCS Average Price For JULY 2021: USD 58.46 / Bbl. !!!Eigen
Thanks for posting lord knows all oil stocks could use some good news....
Unfortunately the lost opportunities wiill be significantly less for Aug.
From a technical perspective the charts are showing some support in the $ 61.30 range, what they mean @ this point is questionable. I think the dust needs to settle first.
Did oil get way overbought to early?
Is oil oversold @ the moment?
If nothing else lower oil prices will only help exasperate the lack of investment within the oil industry.
We should @ least see a narrowing of the differentials with the Line 3 I/S date hopefully no later than mid Oct. Something in the $ 12.00 range would be better than nothing.
Where we go in the short term is anyone's guess, does oil break $ 60.00 don't think so but what do I know?
If nothing else it looks like meg has found some support @ the $ 7.00 range
Regards Fuz