Domestic Oil Stockpiles Surge to Record
13-Year High
Energy is not really the place to be if you’re a buyer in this
stock market.
Oil prices and oil stocks are very vulnerable in the
upcoming U.
S.
recession, and while there are some individual
oil stocks...
More
Domestic Oil Stockpiles Surge to Record
13-Year High
Energy is not really the place to be if you’re a buyer in this
stock market.
Oil prices and oil stocks are very vulnerable in the
upcoming U.
S.
recession, and while there are some individual
oil stocks that I do like right now, the group isn’t going
anywhere in this market.
U.
S.
stockpiles of oil are growing fast,
as domestic production is now at a 13-year high.
Natural gas is
plentiful, and demand is low, so the whole energy picture isn’t
looking good.
Combine very low to no economic growth, and you’ve got $90.
00 or less World Texas
Intermediate (WTI) oil.
What we’re getting from the economic news and financial results
this earnings season is a general, across-the-board slowdown in the U.
S.
, Europe, and
emerging markets.
The only way oil prices and oil stocks can advance in an environment
like this is if there’s a new war.
It doesn’t mean peak oil doesn’t exist, but low oil prices
reveal economic stagnation in the worl
Less
