2 months ago crude at $58 was laughable. Verging on inconceivable... at least in my estimation. So is POO of USD50 at all likely? Should it hit and spend much time in mid-forties the damage across world economy will be substantial. Unkowns will start appearing and ripple effect will be more like a big wave smashing numerous oilers and auxiliary industries.
My guesstimate is USD50 won't be breached but POO could stay in 50-65 range for next couple of months. Beyond that impossible to forecast anything. Perhaps another war will break out and POO shoot back above $70. Nothing can be ruled out. It's become a guessing game. Stick with oilers having strong financials.
STO Price at posting:
$7.58 Sentiment: None Disclosure: Not Held
DLS Price at posting:
71.5¢ Sentiment: Hold Disclosure: Held
