Iran is demonstrating control of the Strait, Trump admitted the oil market was just 4 weeks away from disaster, we are still seeing record draws... and WTI is about to trade with a 6 handle?
Hmmmm
@TXMCtrades Attitude of the youth is most striking. Fighting hard to transfer more of their money to wealthier boomers. To pay for benefits they will never enjoy themselves.
@ericwallerstein Wasn't it the same guy who, a few weeks ago, said it'd take months?
Either that have already restarted (possible as more oil has been leaking out the Strait), or he's saying what his boss wants to hear...
I think if you operate from a position of:
BULLISH RESOURCES
($GDX, $XME, $XLE, $REMX)
—————–———
BEARISH semis ($SMH) & SPACEX ($SPCX)
that you fare well over the next three to six months. Timestamp me, please.
@jac007csi2024 Need for diversification away from the Middle East meets a new cycle of offshore discoveries / cost efficiencies... match made in heaven
I'm always too early to buy and too late to sell, but I struggle to see a world where offshore doesn't do very well... starting buying back the little $RIG and $TDW I sold earlier this year
Offshore didn't need the war but it will likely be the biggest beneficiary, and yet stocks are trading well below pre war levels.
Supply is still flat at best, contracting has been solid, and there are many more projects in the pipeline.