WPL@$30, page-3204

Buy the dip in all honesty the stock as now actually become stupidly cheap and will recover, perhaps not to $30 but $25 is easily possible if you think oil is heading 90+ this year than this is a buy at current prices.



Oil prices still bullish

Despite the serious economic overhang, Wall Street remains bullish on the oil price trajectory.

After all, U.S. crude inventories are still 57 million barrels below where they were at the beginning of the year, while bullish trader bets still outnumber bearish ones by quite some distance. Most fund managers have maintained long positions in case prices surge further. It's only that their appetite for adding even more to them appears to have faded for the time being.

Source: Thomson Reuters

A section of Wall Street believes oil prices still have room to run.

Craig Johnson, chief market strategist at Piper Sandler, says the oil price rally still has plenty of room to run.

"We're coming into the winter months and it looks like to me, from looking at an oil chart, we could see oil above the $90 level. It could be closer to $110 to $115," Johnson has told CNBC.

"The energy crunch is still nowhere close to subsiding, so we expect prevailing strength in oil prices in November and December as supply lags demand and as OPEC+ stays on the sidelines," Rystad Energy's Louise Dickson has told Reuters.

Earlier, Goldman Sachs, which had forecast Brent at $90, said the benchmark could even top that by the end of the year.