RE:WTI has been holding up wellWTI is very strong despite EIA shenanigans.
BTE is making tons of cash above $70, particularly with CAD/USD at 0.74. This is the equivalent of $100-$110 WTI during rallies of the past few decades that saw valuations double or even triple what they currently are.
I'm not sure we can ever expect those valuations again due to the negative sentiment against energy from liberal governments around the world, but we can certainly expect something in the middle of those targets from here. The cash is going to be impossible to ignore.
Stocks are currently trading as if WTI is going to average $55 for the year. BTE outlook improves every single day at these prices. This company's valuation would skyrocket if we sat at $79 WTI for years. We don't need oil to go up to see the share price go up.
Looking forward to earnings.
TheWokeLemming wrote: Between the Fed, the SPR, CPI and now todays PPI report it's amazing that WTI has held around $78. Maybe next week we'll see it break through that $82 ceiling? It would be perfect timing with a good Q4 report.