Honestly its getting pretty infuriating to be honest. The price of both STO and WPL was higher by contrast when oil was far lower. How the hell does that work?
The energy pricing isn't some fantom "it'll pass" situation. Its a structural undersupply driven by ideological crusaders whom have the right idea (I support environmentalism etc) but lack the ability to understand you cant just switch to renewables at the click of your fingers "cos you want to".
The demand for O&G is forecast to continue to rise for quite some time. Nobody has invested money in new rigs, fields etc. It heavily favours existing incumbents.
And yet despite this being clear by the fact that Oil is at pretty high prices and has remained so for all of 2021 and will only do so again in 2022. We have the stock being priced like oil is at 50 bucks again?
News: STO UPDATE 1-PNG court permits Oil Search investors to vote on Santos deal, page-4
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Last
$6.83 |
Change
0.050(0.74%) |
Mkt cap ! $22.18B | |||
| Open | High | Low | Value | Volume |
| $6.78 | $6.85 | $6.74 | $52.63M | 7.724M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 26310 | $6.82 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.84 | 16650 | 2 |
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| STO (ASX) Chart |