VBIN's oil stock thread.

[fenders53]

(06-21-2021, 02:34 PM)EricL Wrote:

(06-21-2021, 02:16 PM)fenders53 Wrote:

(06-21-2021, 01:47 PM)EricL Wrote: WTI hits $73

Last week's dip below $70 sure didn't last long...

I didn't take that one too seriously.  I sold new XLE puts Friday.  There will be a point where I get a little nervous about oil pulling back, but mid June at $70 oil sure isn't it.  

I am never going to understand gasoline prices though.  The station I buy from has literally not moved their price one penny for six weeks.  Oil has not been THAT stable.  I guess the distributors did a good job of predicting local demand?

Been $2.89 at my local station for weeks as well. /shrug

It's not a terrible thing IMO.  There is going to be a lot of vacation travel but greed kills commodities every time.  I wondered when it would come but I am finally seeing it at work.  Customers are like "yeah, no on that garage or deck I had planned....  I'll take one sheet of that outrageously  priced plywood and a couple 2x4s.  I'll just fix a couple things to stay busy for now."  You can only get by with so much before some sanity is restored.

Gasoline prices are in their happy place now IMO. It has zero affect on my travel plans, and oil companies are going to be fine.