When do you think oil will rebound?

[RockNar]

Hello, traders happy 4/20!
My question for y'all is when do you think oil stocks will rebound back to their previous highs and why?

Thanks for viewing.

 

[ZBZB]

Under worldwide communism which is the current position of our dear leaders then never.

 

[kmiklas]

We have also assumed that the stress in oil and gas continues with WTI remaining below $40 through the end of 2021. (1)

1. https://www.jpmorganchase.com/corporate/investor-relations/document/1q20-earnings-transcript.pdf

 

[misterkel]

Approximately 5 seconds after the globe 'reopens.'

 

[Atikon]

Europe reopened today, but oil is down....weird time to trade

 

[Turveyd]

At these prices load up and keep loading up as it goes lower when this all over back to $60 in no time.

 

[cdcaveman]

buying the dips will come to an end

 

[bone]

CL Settlement Net Changes: May -55.90, Jun -4.60, Jly -3.14, Aug -2.69, Sep -2.24, Oct -1.90, Nov -1.64, Dec -1.41

May Volume: 224,816
Jun Volume: 1,136,362
Dec Volume: 81,901

CME just officially settled the May '20 CL Contract at:

- $37.63

 

[bone]

We'll have $20 Oil tomorrow with the June contract.

In terms of the May contract meltdown - my GUESS is that some retail longs were autoliquidated by brokers. Commercials who were short and planning on making delivery offset some at ridiculous price levels. Just a guess but I think it's a good one.

 

[comagnum]

When do you think oil will rebound?

It already has.

The April (K) contract, in the extended session, is up $36,670 so far.