Monday will hurt, crude oil cartel has been damaged and broken by the Khashoggi murder, Saudi will now glut the market and the POO will react to the oversupply.
Money moved on Wall Street away from the upstreamers to the midstreamers and downstreamers, retail and commercial users of POO will now receive benefit, electric cars and hybrids will have their growth arrested.
Not great for STO in the short term but should be better for STO mid to LNG term.
Oil ain’t going away at these dirt cheap prices.
STO Price at posting:
$5.76 Sentiment: Buy Disclosure: Held
