And while it might look quiet in the market, with one day left in the trading year. Look at the oil stocks. Crude ending lower by more than 2. 5 . And exxon, chevron, b. P. That got hit, closing out the day at the session lows here. What are we seeing here . A rotation at the end of the year. We pointed that out last night and that is yesterday to those on the metric system. The oil was down after the api report of build. And then the doe report, again a build and people werent expecting that. And production is flat looiped at 9. 2 Million Barrels a day. So you are not seeing the reduction in production with the rate count reduction. Now people are expecting that, they are piling into exxonmobil, chevron, the big happen energy names thinking they could weather the storm the best and if oil bottoms, they would rocket off. When oil started to turn, you had to get out of them end of the year and that is what happened today. And you pair that off with the comments from the Saudi Energy Min
Bruce Skud passed away. This is the full obituary where you can share condolences and memories. Published in the The Daily News of Newburyport on 2023-11-24.
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