Tell me what I am not understanding or what I am just missing. If you a week ago showed me the price of WTI crude oil I would have replied “oh, Putin withdrew from Ukraine?” He of course has not. This would have been the only thing to reason why Chevron, Exxon, etc are all down over the past 7 days/traded sideways the past 7 days.
Current holdings in both OILU and SCO (breaking even right now since both are leveraged). Also have shares of Chevron.
So why is oil trading down from the highs of $130+/barrel. Can we expect to see $150+/barrel in the coming months?
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