There is a lot of oil that needs to be soaked up before we see higher sustainable prices, and meanwhile the Saudi-U.S. relationship is thicker than crude.
Energy Transfer has a sustainable 15% yield.
Those predicting a doomsday scenario similar to what we saw in April will be disappointed.
Many major oil names did not participate in the recent craziness.
The idea of paying $37 for someone to take a barrel has a lot to do with the malfunctioning of the way oil trades.
In any other business, if you saw demand fall, you would make less, but what did oil producers do as Covid-19 stopped people from driving, flying and leaving home?
Let's check out the charts and indicators of this oil storage play.
We are still short-term overbought, but not yet intermediate-term overbought and breadth is a bit better -- it's time to look at the statistics.
Oil isn't really worthless and Amazon isn't the only retailer that will survive, but we are in a mixed up market thanks to Covid-19.
Let's review the charts and indicators.