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Gary Simmons, Chief Commercial Officer at refining giant Valero: "I can tell you, through our wholesale channel, there is really no indication of any demand destruction... In June, we actually set sales records. We read a lot about demand destruction and mobility data showing in that range of 3% to 5% demand destruction. Again, we're not seeing it in our system."
So now there's a greater than $11/barrel difference between Brent and WTI crude. $110/barrel Brent vs. $98.62 WTI. Just incredible. And unsustainable, IMO. WTI should be only $3-4/barrel behind Brent, which would put it at $106-107/barrel now.
Wow! EIA reports a net draw of 10.1 million barrels for the week. That's a 5.6 million draw from the SPR and 4.5 million draw from commercial. That's a huge draw, should be very bullish for oil.
We should be at or above 2018 share price levels... Manipulation and political pressure are keeping this and a lot of other O&G stocks down... Buy up we'll get there soon enough... These companies are hedged well and are in great positions... $CPE $LPI $OVV $CDEV $CVE
Sold my $LPI & $CPE today, flipped for more $ESTE, $ROCC, $SBOW, $TALO. There are too many other good O&G companies beating estimates and actively looking to increase share price. $CPE and $LPI mgmt just seem content on collecting paychecks and phoning it in until retirement. No reason to hold a dog right now when there are so many other opportunities to get in because the whole sector has been so beaten down over the past month. jmho.
What are people's biggest energy holdings right now? My largest position by a good margin is $ESTE, then $SBOW, followed by $LPI, $ROCC, $CPE, $TALO. Then have some a scattering of a few shares of about 5 others that are small %s. But the majority of my energy port is in these 6 companies.
Very obvious manipulation of the WTI crude price today. Currently WTI is nearly $9/barrel below the Brent price ($97/barrel vs $106/barrel). That's ridiculous. Normal spread between the two is $3-4/barrel.
Another bullish natural gas storage report ..... We will be short nat gas in the world in the next 5 years ..... expect a blowout ..... $CHK $AR $PDCE $DVN $LPI $OVV $FANG $EOG $ESTE $CPE
I would say they are on target. Like everybody they have to watch the inflationary costs. This is obviously a negative for a lot of the names out there but at the same time will mean that not many of them are bullish to seriously increase production through 2023 which will pressure supply .... and hence pressure prices to the upside ..... Disappointed with $CPE with production miss. I am rotating out of this one. $PDCE's nrs were pretty good. Like $CPE though some pressure on production though .... $OVV just hit it out of the park. I have rotated some more into that one .... added some $PXD too on the illogical pullback. Henry Hub ticked up again due to hot weather and bullish view on Freeport LNG coming back online in October due to regulator news. Very good for the gas names $CHK, $AR and others. $SBOW was pretty good. See how price develops today and may add to that name too. Oilprice seems to be skirting along the low 90's looking for direction. I doubt it will go down much further as I don't see many catalysts taking it down further. Way more potential to the upside here so will stay bullish on oily names as well.
$LPI $CPE $CVE $OVV $CDEV The next few ERs will be stellar... Buy up on the short term discounts... Oil over $80 means these companies are making money hand over fist... The recent decline has been purely political not remotely based on fundamentals.... GLTA!
9$ natural gas. 95$ oil. hedges getting smaller (and when renewing higher) $CPE down big for the past month. something like even on the year. It's insane. This is moving so much higher it has to. either that or a buyout..even with the debt they carry it's making $$
https://www.zerohedge.com/commodities/very-crooked-numbers-biden-admin-accused-fabricating-gas-demand-data-hammer-price-oil
$XOM $CVX $COP $CPE $LPI $FANG $APA
$CPE $OXY $FANG $PXD $DVN
$LPI $CPE $ESTE $CDEV $SM $FANG $PXD $XOP $TALO $ROCC $MTDR $OAS
$LPI $CPE $ESTE $CDEV $SM $FANG $PXD $XOP
Actual -4.037M
Forecast -1.121M
Previous 1.860M
$cpe
$LPI $CPE $ESTE $CDEV $SM $FANG $PXD $XOP
$LPI $CPE $ESTE $FANG $PXD $XOP $SM $CDEV
$LPI $CPE $ESTE $CDEV $SM $FANG $PXD $XOP
Henry Hub ticked up again due to hot weather and bullish view on Freeport LNG coming back online in October due to regulator news. Very good for the gas names $CHK, $AR and others. $SBOW was pretty good. See how price develops today and may add to that name too. Oilprice seems to be skirting along the low 90's looking for direction. I doubt it will go down much further as I don't see many catalysts taking it down further. Way more potential to the upside here so will stay bullish on oily names as well.
WTI crude $102.56/barrel (up 5.1%)
HH nat gas $7.50/mcf (up 6.9%)
$LPI $CPE $ESTE $FANG $XOP $SBOW
$lpi $cpe