RE:re WTI over $60 - mind boggling.i just looked at the charts, have a look, you are correct about
WCP, CR, CJ. But NVA is not even close. I see every O&G following the same pattern past 6 weeks. When sentiment turns positive again, they will all move up.
Indicator wrote: my 2 cents:
Some of the names like NVA, WCP, CR, CJ have returned to or are above their pre-pandemic levels.
Some others like ERF, VET, SGY only made it 3/4 way back.
The bottom bounce easy money has been made, it's now a show me mode and it appears that some larger market movers are not as convinced of returning to higher levels as Nuttal is.
There are headwinds for oil and until the eviddence is more overwhelming, my guess is it won't be smooth sailing back to higher than pre pandemic levels.