U.S. Crude Oil Storage Levels Are Falling Toward This Critical Level. Here’s What Investors Need to Know
Key takeaways
- CL=F PSX DVN FANG CVX The CEOs of Chevron (NYSE:CVX) and Exxon Mobil (NYSE:XOM) have both warned that oil prices aren t fully reflecting the on-the-ground situation in the oil market.
- Oil is global, so events in the Middle East affect the rest of the world.
- In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia.
CL=F PSX DVN FANG CVX The CEOs of Chevron (NYSE:CVX) and Exxon Mobil (NYSE:XOM) have both warned that oil prices aren t fully reflecting the on-the-ground situation in the oil market. The latest update on that comes from the United States, where U.S. oil reserves are getting dangerously low, with a warning from refiner Phillips 66 (NYSE:PSX) about the issue. What s going on and what should investors do now?
Oil is global, so events in the Middle East affect the rest of the world. Oil exports from the U.S. market rose as flows from the Middle East were constrained, with oil users seeking supplies from wherever they were available. U.S. oil production isn t directly affected by the war, and the country is one of the world s largest oil producers, so it was a logical place to look. Companies like Devon Energy (NYSE:DVN) and Diamondback Energy (NASDAQ:FANG) are likely to be net beneficiaries from high oil prices and increasing demand for U.S. oil.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »