Another cut into the already tight oil supply...New numbers out today... US crude inventories fell 4.8 million barrels to 410.4 million barrels, their lowest for commercial inventories since October 2018. Analysts had forecast a 1.27 million barrel rise. It would seem that the effects of the Omicron variant are subsiding and the US economic pace is obviously picking up, cutting into the crude oil stockpiles which were already showing a tight supply.
Increased demand bodes well for higher oil price... hard on the pocket but awesome for FCF and eventually higher stock prices. Next step... $95 WTI and I'm guessing $100 WTI in the very near future.
It will soon be time for a surge in SGY's share price!