Trendless Oil, looking for much lower prices

I haven’t seen any compelling investment opportunity in Crude Oil (or any related equites) over the past 2 years.

I’ve been comfortable with that view as the price of #Oil has mostly traded sideways over that time.

Digestion has been the prevailing trend amongst oil and gas equities.

I’d like to see WTI #CrudeOil trade down to the $64 range before being interested.

At $46, it would become compelling.

This would translate to the share price in Australian energy company, Woodside Energy trading down to $19.65. (it’s currently $28.20)

……and then I ponder the related correlations in currencies etc.

May 14, 2024

by Rob Zdravevski

rob@karriasset.com.au