In this sort of market it's easy to just formulate a negative narrative and then try to back it up, but it's smart to watch the price action to see which narrative is actually taking hold.
Brexit is not the only big issue getting kicked down the road lately.
It appears it may not, as supplies of heavy oil are becoming short even as there is an excess of light sweet oil.
BP's BHP buyout is a big catalyst for 2019 if oil prices rise.
BP stock was surging higher after its earnings report.
With a blowout earnings result the latest scandal isn't impacting shares.
The surge in individual stocks comes as both the WTI and Brent Crude indices jumped after China indicated it would hold trade talks with the U.S.
As oil recovers and begins to stabilize both the stock price and cash flow of companies in the space, dividend payments could drive strong portfolios.
If you follow me, then you know oil stocks is where I have been adding more so than anywhere else over the past couple of weeks.
CVX shares keep chugging along, building on a bounce from their December lows.