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Friday, April 1, 2022

Notes From All Over -- April 1, 2022

Brazil: Petrobas CEO removed amid rising fuel prices.
Decisions, decisions:

  • DVN: P/E = 14; yield = 6.61%; fell over 2% yesterday;
  • NVDA: P/E = 71; yield = 0.06%; fell 4% yesterday;
  • APA: P/E = 16; yield = 1.2%; rose slightly yesterday;

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Previously posted, earlier this morning:

SPR:

  • 410 - 180 = 230 / 410 = six months from now, all things being equal, the SPR could be about half what it is now
  • all things being equal, wouldn't that suggest, WTI will be priced higher in the future
  • all things being equal, isn't an SPR release a win-win for everyone? 
  • although not designed for that purpose, could "manipulating" the SPR, minimize oil price volatility?
  • are we now in the normal state: contango? not quite yet? Futures.

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