6/20/2026
Out title is lifted from a long ago Alan Abelson column in Barron's.
Monday Trump said ships start your engines.
Same day, the CEOs of Exxon and Chevron warned of a suply shortage.
Talks have stalled again
J D Vance disagrees and doubts WSJ article
Iran wants fighting, ie killing of Hamas in Lebanon to stop, Israel does not see it that way, so here we are?
OK who do you believe ?
My suggestion is to watch what the markets do not what the politicians say
WTIC has returned to its 200 da moving average. This is a bit higher than where oil broke out in March. Everything energy and energy service has sold off. Let's watch this closely. Recall the CEOs are expecting oil to go to $120.
he latest Clarkson data shows that current price of a newbuild of a very large crude carrier (VLCC) is $128 million. This means that the cost of building a new VLCC is about 50% higher now than it was in 2020.
Do you want to sail your $158 M tanker thru Hormuz because J D Vance says it is OK? No you don't.
Consider Aoache APA
Notice the dividend is 3%
APA has returned to its uptrend line. RSI and PMO have fallen to buy areas but have NOT turned up yet. BP is in the same position.
XLE is a good way to play the majors which is why it has not dropped as far as the smaller firms.
The picture is uncertain but this bears watching and is certainly is a far better chart pattern, pick one, than any tech stock.
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