$OIL – My Point of View
$OIL – Crude Oil is a natural petroleum company that is used for a variety of crucial and popular functions and products, including gasoline, diesel, generating electricity, manufacturing, and many more.
Data Points that I have considered:
Based on research and insider news, Energy firms are preparing to resume output after the storm passes in the US Gulf of Mexico.
Oil and Gas producers OXY are reviewing options for Middle Eastern assets in a bit to ease its debt load.
Hedge funds have started to temper their bullishness towards oil after crude futures prices have doubled since April 2020.
Oil prices rise on optimism easing of lockdowns to spur fuel demand.
Saudi Arabia to end voluntary cuts on top of OPEC+ pact.
US sanctions imposed on Iranian shipping networks over proliferation take effect.
Juggling all this info in my head, I am waiting for another good push above 40sh. If it will go above it, I might add more to my 21% investment in my Popular Investor public portfolio.
As always, please exercise due diligence. Research and study it well before you go in. Even traders who are diligent still fail to get a win sometimes, how much more if you don’t?
Your money is at risk, protect your capital.