RE:RE:RE:OIL is bouncing back folks!!!U.S. numbers have much less significance right now since American storage is tight and most available space is contracted for. As a result WTI moves dramatically, particularly when futures contract holders look ahead and reposition themselves over several monthly contracts to avoid getting squeezed (again) like last month. Brent pricing is a better indicator of what oil is "worth" right now, since it is not so affected by the issues in the U.S. (caused by short-sighted and greedy players). Economic recovery will drive increased consumption of petroleum, which is why oil companies like CPG.TO are relatively well supported at these levels. The big question is whether a reopening of the economy will lead to a resurgence in coronavirus (COVID-19) cases and a resulting "W" shaped recovery, or whether it will be more of a "V". While there is clearly significant upside for oil and gas issuers down the road, the risk is shorter term weakness.
Bpultra wrote: Actual: --
DEV:--CONS:10.6 MDATE:04/29/2020 14:30