vtle is hedged at 75 in q4 and 72 in q1, well done! Crap hedges to continue for the foreseeable future
https://seekingalpha.com/news/4011793-us-crude-oil-tops-90-for-the-first-time-since-november
WTI hit 90 today
Re: WTI hit 90 today
Yesterday, Jamie Diamond at JPM said that if WTI breaks $90 it could go to $120. The last time WTI traded briefly above $90 was the first week of November 2022. My take is that there is strong resistance at $92, but above that the only strong resistance is around $120.
Settling in the low $90s will be very good for our stocks. Spiking to $120 will cause serious inflation, which we do not need right now.
All of my 2024 forecasts are based on WTI averaging $90 and HH ngas averaging $3.25 for the full year. When you compare my stock valuations to First Call or TipRanks price targets just remember that their price targets are based on lower oil prices; probably $75 to $80 range. Some analysts use the strip prices for natural gas, so they are probably using $3.50 for 2024.
The NYMEX strip is NOT A FORECAST.
Settling in the low $90s will be very good for our stocks. Spiking to $120 will cause serious inflation, which we do not need right now.
All of my 2024 forecasts are based on WTI averaging $90 and HH ngas averaging $3.25 for the full year. When you compare my stock valuations to First Call or TipRanks price targets just remember that their price targets are based on lower oil prices; probably $75 to $80 range. Some analysts use the strip prices for natural gas, so they are probably using $3.50 for 2024.
The NYMEX strip is NOT A FORECAST.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group