The chart below shows the oil price is not keeping pace with inflation, and the price of oil in gold is has fallen significantly. Most if not all gas stocks on the ASX are down, and my worry is this is reflection of a deteriorating Australian and world economy. Its given that no modern society can do without oil and gas (for the foreseeable future) and hence there will always be a market, but has the oil and gas market transitioned from price setters to price takers? US Nat Gas prices remain near a 10yr average, and 2022 highs appear unlikely to recur anytime soon. Overall, the macro's don't seem to favour COI ?? PS - I'm holding because I don't need to sell, not because I'm confident a near term doubling - my SP is now much more modest.
COI Price at posting:
17.0¢ Sentiment: Hold Disclosure: Held
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