Santos Target Price $4.61, page-2

Brokers want to influence the herd to follow their directions.
Pages of rationale with tons of figures
Even more pages of disclaimers

We know:
- there is a lot of oil in storage
- short term up spikes probably just due to inefficiencies of moving the oil, Or wrong type for refinery feed
- SPR is full, where is the rest of it going?
-oil price responds up to potential scarcity caused by looming war, natural disaster etc
-oil price is sedated by continual upheaval in Middle East, needs a big event like Israel whacking a neighbour to
Activate it
-Iran wants to get back its chop of the market
-the best shalers are "AntiFragile" - they are responding to the disruption and getting more efficient.

-what was the effect on oil price last US driving season?

Agree that STO is very sensitive to oil price

My medium term framing is :-
Oil price range $30-$40 , hard resistance $50
STO price range $3-$3.50, hard resistance $4

Of course without any external strategic event occurring

The brokers may want us to buy the dog so they can offload it.
The above may be a tad unfair as they have customers so if they want to keep them
They can't be "wrong" all the time

We must remain in awe of the market
My programmatic specificity above is just my guess