Federal government announced today that they are taking bids to sell them 3 million barrels. If this is truly the beginning of a refill, oil may have found a bottom price.
I have been an oil bull for a year and think there could be a retest of $120 a barrel oil and maybe higher medium to long term.
Commercial inventories are still at decade long lows and the refill would put upward pressure on prices. I like FANG, OXY, and VLO for longs.
[link] [comments] https://www.reddit.com/r/stocks/comments/13ir4hu/white_house_announces_a_refill_of_the_spr/
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