thinks now is the time for investors to add exposure to energy stocks following oil's historic plunge into negative territory last week.Goldman thinks energy fundamentals have bottomed and sees potential for a lasting recovery in energy stocks depending on the pace of the rebound in demand for oil.
The main risk related to the call, according to the analysts, is a much longer-than-expected oil demand recovery, which could be exacerbated if the coronavirus pandemic lingers around longer than investors expect.1."Oil prices are at/below cash costs." WTI oil prices are below the $20 to $25 per barrel price that is often seen as"typical cash cost floors." Goldman thinks current low prices and even the negative oil prices seen last week are warranted due to the level of oversupply in oil markets. At the same time, these ultra-low prices should force a reduction in production, thus reducing supply and helping put a floor in oil prices.
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A lot of negativity has already been priced into energy stocks, traders sayEnergy is the only S&P 500 sector that finished last week in the green, and traders say it could mean the worst of the weakness is behind the group. TradingNation '...priced in...' TradingNation VXRT is my stock pick. On the rise for sure to come through for covid vaccine.
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Japan stocks set to rise as oil prices plunge overnight; HSBC earnings aheadWest Texas Intermediate for June delivery plunged more than 24% overnight to settle at $12.78 per barrel. International benchmark Brent crude futures also saw sharp losses as the contract fell 6.76% to $19.99 per barrel. 😷 Nothing makes sense anymore Clown market.
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Stocks Rally Ahead of Blue-Chip Earnings; Oil DropsA fresh plunge in oil prices signaled a bleak outlook for energy demand as the coronavirus pandemic ravages the global economy. Proof that demand drives price. Stop depending on oil Targetting - 50 up to - 100 ? This hardships to United States is a blow so devasting that may to provoke severe damages to the economy and the people in general.
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