Oil Inventories Should Continue To Fall

It’s interesting to watch the dramatic turnaround in our holding CHK. Post-Wildhorse deal the stock collapsed as oil prices fell and Wall St assumed prices would be low forever. Oil has rebounded higher and no the deal is being thought of a smart one and the stock has reacted accordingly (up over 50% YTD). Additionally, our DTO short has performed spectacularly (86% gain) and will continue to do so.

Q4 hedge fund letters, conference, scoops etc

jplenio / Pixabay

“Davidson” submits:

Refining has picked up-US Crude Inv falls 9,589mil BBL to 439,483mil BBL which is basically  inline with its 5yr Mov Avg at 438,920mil BBL-next report likely to show continued draw with additional refining coming on line which is typical this time of year.

Expect a continued decline in US Crude Inv below the 5yr Mov Avg to push $WTI higher with the historical market psychology response all things being equal.

Oil Inventories


Saved Articles
X
TextTExtLInkTextTExtLInk

Are you a smart investor? Join tens of thousands of sophisticated investor reading our authoritative free newsletter

* indicates required


Congrats! Are you a smart person?

We have an exclusive targeted for being a sophisticated and loyal reader.

Sign up today and get three months free

Use coupon code vip19 or click on the button below

Limited time offer only ENDS 10/31/2019 or after next 25 20 subscribers take advantage whichever comes first – please do not share this discount with others

 

0