Crude inventory decreased by 12.5M barrels for week ended May 19 - EIA

ColinThorndike
2023-05-25

I don’t understand oil- it really seems like the fundamentals are pointing to a much higher price. I own SLB and RIG - and I guess at this point my Berkshire Hathaway is also an energy investment. I have sold about 2/3 of my SLB because I just bought a house but I own all of my RIG. I think SLB may be good for 65 but RIG could go to at least 12-14. Oil is going to stay high enough to justify high day rates for drill rigs. Still, this trade may not work if democrats get voted out of office in 2024 so it’s not a buy and hold investment. $Transocean(RIG)$ $Schlumberger(SLB)$ $E-mini Nasdaq 100 - main 2306(NQmain)$

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