The macro tailwind only works for the oil market until physical market dynamics take over. When they do, unwinds can be sharp and painful.
Stay nimble and focus on the bigger picture.
These Exxon calls are way too cheap.
It's important to follow the macro trends like growth over value rotation, or reflation vs. deflation trade.
As prices nudge towards $60/bbl Brent today, where do things stand?
As these firms expand on their existing relationship, Palantir will provide its platform to BP on a global scale.
While oil has reached new recent highs, some of the big oil stocks have not.
Don't look for impressive results in the short run.
It's difficult to imagine oil moving higher from here without significant help from further weakening in the greenback.
Oil is especially interesting as it is deemed the cheapest. Cheap is cheap for a reason.