I'll indulge - I'd not look too much into it. Oil as a commodity has been a bit all over the place - commentary is consistently saying 'oil is displaying weakness', but then all of a sudden the 'US has drawdown inventories faster than expected..'. Self-interest will always prevail - ie, OPEC+, will do what needs to be done to control the market. From a WDS perspective, we've obviously encountered a little bit of 'woke' agenda pressure here in Aus, albeit recently there has been a complete govt backflip on gas...and apparently we love gas now...because it's the 'transition fuel'. Back to my main point....'I'd not look too much into it'. When comparing STO and WDS side by side (pictured below) we're just following the ebs and flows of the market. Structurally WDS in fine; PEL87 (assuming we hit something), will be yet another feather in their cap.
PCL Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
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