Added a little CVX today, same logic as the PR add a couple weeks ago. Seems like its oversold right now, and OPEC meeting this weekend could have some fireworks that spike crude prices next week (why would OPEC not allow journos in for the meetings this weekend like they usually do?) . Saw something like 9th or 10th straight week of SPR draws this past week, that can't last forever right?Been almost completely in MM fund for the last month or two, just riding things out with the ~4.5% net yield those are offering right now. I did, however, dip back into PR today. Not a huge position, but with the quarterly dividend cutoff yesterday and with the latest dip in crude price I got in for the lowest share price since beginning of the year. Small bet on this $70/barrel crude price not lasting -- I figure summer seasonality should kick in soon if it's going to, plus it seems like OPEC in the last year has signaled it's not willing to let our administration toy with crude supply for too long without intervening.
Not unusual at all, they've done it many times in the past.why would OPEC not allow journos in for the meetings this weekend like they usually do
I saw an article mention that, but the atmospherics right now make me think there's a chance for a surprise cut announcement. Saudi oil minister or whoever it was last week calling out people across the world that are shorting oil something to the effect of you're all playing with fire. Continued SPR draws that were supposed to have stopped by now.Not unusual at all, they've done it many times in the past.
Added a little CVX today
Perhaps part of the “conservative awakening” that seems to be starting. Woke politics manifested in a lot of companies are starting to have trouble in the marketplace.Looking good.
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The climatists failed and were told to step aside.
“Oil & gas shareholders continue to reject climate-related petitions. Exxon Mobil and Chevron shareholders opposed more robust measures to mitigate climate change, dismissing over a dozen climate-related proposals during their annual meetings. The two largest U.S. oil producers were feeling pressure to follow European rivals in committing to tougher emissions reduction goals. However, those pushes have also faced shareholder pushback due to their potential profit impact.”
“Exxon, Chevron shareholders soundly reject climate-related petitions”
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Exxon, Chevron shareholders soundly reject climate-related petitions
Exxon Mobil Corp and Chevron Corp shareholders on Wednesday overwhelmingly rejected calls for stronger measures to mitigate climate change, dismissing more than a dozen climate-related proposals at their annual meetings.www.reuters.com
Not only a conservative awakening or even conservative thought but some democrats (not liberals) I know are not stupid blind when it comes to the pandering energy policy’s that are being pushed.Perhaps part of the “conservative awakening” that seems to be starting. Woke politics manifested in a lot of companies are starting to have trouble in the marketplace.
ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zerowww.zerohedge.com
Always feels good to see even a small wager pay off. We’ll see how it translates to PR and CVX tomorrow
Same here. Crude gave up all the initial gains.The oil stocks I have/follow are all showing red today...go figure!
is it a good day to get more?Same here. Crude gave up all the initial gains.
Tough to answer that, for me anyways. I still think we have more downside ahead, but at this point the AI bubble seems to be single-handedly keeping our stock market alive. All bets are off really when it's not truly a free market and you have a “independent” Federal Reserve and a legislative and executive branch with their fingers on the scales.is it a good day to get more?
Fuel prices are up ~20 cents a gallon here in the last two weeks.Tough to answer that, for me anyways. I still think we have more downside ahead, but at this point the AI bubble seems to be single-handedly keeping our stock market alive. All bets are off really when it's not truly a free market and you have a “independent” Federal Reserve and a legislative and executive branch with their fingers on the scales.
I'm gonna sit on the oil stocks I picked up for 5-7% cheaper than they are right this minute. If they get back down to the levels I bought last week I may consider buying more, I think they have good intermediate- to long-term potential. But we are right smack dab in the window for oil seasonality if it was gonna happen, and it just isn't, gas prices are actually down significantly in the last two weeks.
Yeah i know there are significant local dynamics. It never went down in HI to begin with, and I’ve seen recently it’s ridiculously expensive in Arizona right now too for some reason, I think it’s even more expensive than here. But generally, I pay attention to this chart for broad gasoline prices. There’s just no real uptrend.Fuel prices are up ~20 cents a gallon here in the last two weeks.
My ass still hurts from GTE, so I'm steering clear for now. Well, except for my PBR and PBR.Ais it a good day to get more?
GTE is the gift that keeps on giving...me nightmares.My ass still hurts from GTE, so I'm steering clear for now. Well, except for my PBR and PBR.A