it’s debatable, I was thinking the same for the past week.
the war may end or Iran will come back to the market
all possible scenario which will see some near term retrace of oil price
but assuming it is true
iran does come back to market, how long before they can go back to capacity
the sanction on Russia, if lifted, won’t be a decision done over night.
there is a lagging effect on any political change, but the catalyst for short / medium term supply constraint won’t be resolved anytime soon
china was reported on Bloomberg trying to source spot cargoes again.
personally I think we will see some retrace, but put in context over 10 years. When was the last time oil are in the current predicament? Not many, what was the average share price $30. So either way, yes it is high by our standard , but it’s merely the average price over a longer time period, but the earnings are not your average
for this reason, I will progressively sell 10% every time Woodside goes up 10%
$30,$33 $36
assuming I sell the next parcel at $33 and it goes up to $36, I still have 70% of my original parcel
the other problem is portfolio positioning, unless you have somewhere to park your money/Yaris. Why sell?
anyway, my two cents worth. If I collate all my comments I can probable write a book about Woodside
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