Another disappointing inventory report sent oil down about 1% over the past 24 hours. Despite this, the oil names are holding up okay. BAS, HCLP, and VOC were all up today, and ALDW was down if you can imagine.
We’ll see what tomorrow brings. The oil and energy patch is down from the recent top, but this is a process we are working through.
See you tomorrow.
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Somehow i see a war or some unrigged reason that energy will be good sooner than later. Hard to imagine America becomes a coalmine wasteland. Uncle Cheeseburger did not buy a railroad to watch WTI crash to zero.