Thursday, July 18, 2019

The Open -- July 18, 2019

First day.

With the cut line likely to be +2 or +3, both Tiger Woods and Phil Mickelson are not likely to be around this weekend. Tiger is +6 after 13 holes first found; Mickelson finished the first round, +5.

2 comments:

  1. WTI down to $55. Not a negative nellie, but companies with weaker projects start to re-examine them as price moves down in the 50s. It's not irrelevant to companies in the fringe.

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    Replies
    1. You are so correct. I remember going through this when oil was a lot lower. The "canary in the coal mine," to coin a phrase, were the Canadian heavy oil / sands companies. Their break-even price was higher than that in the Bakken and relatively land-locked. Likewise, companies that bought into the Permian late will struggle with $55 oil. As an example JAG has been trending the last few days by quite a bit.

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