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...
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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
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