USO

United States Oil Fund, LP

Energy, Macro


Presented:12/01/2016
Price:$11.33
Cap:N/A
Current Price:$72.76
Cap:N/A

Presented

Date12/01/2016
Price$11.33
Market CapN/A
Ent ValueN/A
P/E RatioN/A
Book ValueN/A
Div Yield0%
Shares O/SN/A
Ave Daily Vol46,825,561
Short IntN/A

Current

Price$72.76
Market CapN/A

Publicly traded companies mentioned herein: Anadarko Petroleum (APC)

Highlights

Oil has had a couple of big moves in the last few business days (11/30 and 12/1; owed to the news of OPEC reaching a deal to cut production). WTI has jumped from $45.23 to $51 per barrel, and Brent is up to $53 from $46.50 per barrel over the same time frame. The presenter thinks there is likely room for another $5/ barrel of upside, and said, “This is important because people doubted the [OPEC] deal, and when I run the numbers we should be de-stocked by mid-year 2017 and it will likely be a tighter market”. If oil climbs the proverbial “wall of worry”, then the Street (including investors) will have to start putting $55-60/barrel oil in their forecasts. This will lead to earnings revisions and it will also bring large investors back to the sector “because TMT and other previously better performing sectors are now under performing”.

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Idea Discussion

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