is now the time to invest in oil stocks?
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- Mar 4th, 2024 9:55 am
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- SCORE+30
- reps001
- Deal Addict
- Jan 6, 2015
- 1539 posts
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- dangersun
- Newbie
- Nov 26, 2009
- 97 posts
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- Charles
- Deal Addict
- Aug 18, 2003
- 2417 posts
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- YVR
Why are stocks like SU and IMO up today? aren't their businesses reliant on the price of oil being higher?
.
- dangersun
- Newbie
- Nov 26, 2009
- 97 posts
- 139 upvotes
Here is a link to the HOU contract rollover for 2020.
https://www.horizonsetfs.com/horizons/m ... r_2020.pdf
https://www.horizonsetfs.com/horizons/m ... r_2020.pdf
- iamagtaguy
- Sr. Member
- Jul 30, 2016
- 752 posts
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crude -58%
- gyu138
- Sr. Member
- Dec 27, 2011
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- AB
- iamagtaguy
- Sr. Member
- Jul 30, 2016
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- DanChristianYeung
- Newbie
- Feb 6, 2019
- 60 posts
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- specialfx3000
- Sr. Member
- Mar 3, 2004
- 588 posts
- 704 upvotes
So often when oil drops a few percent, many of the Canadian oil stocks drop a few percent.
Today oil drops 57% and all the companies +- a few percent.
May be if oil pops 30% tomorrow the stocks will drop.
Bizarro world.
Today oil drops 57% and all the companies +- a few percent.
May be if oil pops 30% tomorrow the stocks will drop.
Bizarro world.
- DanChristianYeung
- Newbie
- Feb 6, 2019
- 60 posts
- 14 upvotes
without knowing a lot about this industry, my guess is that they're more focused on selling refined oil (not raw oil), and the price of the raw material they need to make refined oil is exponentially cheaper than it was yesterday.
- joepipe
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- Jul 3, 2007
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- Toronto
- Rothesay
- Sr. Member
- Oct 13, 2011
- 853 posts
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Should people be weary of pipeline stocks? Given current prices, would there be shut down of productions in the near future?
- mikolyyyy
- Sr. Member
- Jan 25, 2015
- 955 posts
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- Toronto, ON
- Guest5666777784
- Member
- Feb 13, 2017
- 369 posts
- 350 upvotes
- toronto, ontario
Hit $1.02 low today... unbelievable!!!jackrabbit000 wrote: ↑ Now $4.33 -$13.94 -76.30%
Last edited by Guest5666777784 on Apr 20th, 2020 1:45 pm, edited 1 time in total.
- DaveTheDude
- Deal Addict
- Mar 3, 2018
- 3475 posts
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- GTA
$1.50 and about to go negative?
- gizmo8
- Deal Addict
- Dec 12, 2005
- 4908 posts
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- Greater Toronto Area
Imagine if oil companies have to pay customers to take the oil off their hands.Bursting at the seams right now in storage capacity.
- craftsman
- Deal Expert
- Jan 27, 2006
- 21844 posts
- 15620 upvotes
- Vancouver, BC
Basically, while oil is down, it's not as bad as people feared so these large caps rallyed on the news. What do I mean not has bad as feared? While the May contracts and down BIG, they expire tomorrow so we really should be concerned about the June contracts and NOT the May ones. The June contracts are down but not nearly as much as Mays so people are expressing some optimism that while we might see some more downside on the spot oil markets, the June contracts are stating that there won't be a complete collapse of the oil market.
- mkl38s
- Deal Fanatic
- Jan 21, 2014
- 8514 posts
- 6260 upvotes
We could see negative price on OIL. CME removed the lower limit so bottomless, perhaps you get paid to buy oil, that is the most crazy thing
- david107
- Banned
- Mar 24, 2020
- 99 posts
- 72 upvotes
Exactly. News headlines are scamming people.craftsman wrote: ↑ Basically, while oil is down, it's not as bad as people feared so these large caps rallyed on the news. What do I mean not has bad as feared? While the May contracts and down BIG, they expire tomorrow so we really should be concerned about the June contracts and NOT the May ones. The June contracts are down but not nearly as much as Mays so people are expressing some optimism that while we might see some more downside on the spot oil markets, the June contracts are stating that there won't be a complete collapse of the oil market.
- Dpack22
- Deal Addict
- Mar 16, 2010
- 3326 posts
- 1885 upvotes
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