David Taylor reports on 3/20 the sales 3/11 and 3/12.
- Does he need cash (low probability)
- Taking profits (could be)
- Is the Oil supply is about to increase and prices are about to fall (hmmm)
What could he know?
- Opening the Straight of Hormuz would drop prices fast
- Trump signaling ceasefire talks
- Taylor sits on the Agricultural and Transportation Committees and both receive updates on commodity supply chains.
Oil bounces over $108 and recently Congressmen sells Chevron (3/11) and Marathon (3/12). What does he know about Oil supply that we don't?
byu/Wegs1 ininvesting
Posted by Wegs1
9 Comments
Venezuela coming online
They’re allowing more additives?
3/11 and 3/12 is quite a while ago? both of them are up more than 10% since
Means nothing to be honest
Pretty sure he was just profit taking. The shares were near year highs and he immediately bought like, bank stocks.
Even if Hormuz opens there’s a bigger risk to more refining capacity going offline and needing to be rebuilt over years.
Businesses and consumers don’t buy crude. Refiners do.
He heard that the administration was going to give one billion dollars to a windmill company and figured that they were pivoting away from oil and so he sold.
When did he buy? Some of these oil stocks are up 50 percent over last year.
Or he’s an idiot, oil stocks even now have no where to move but up.