G'day folks and welcome to another trading day with your friendly, neighbourhood CMC Market Analyst!
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Trading Idea of the Day
ASX:PLS - Pilbara Minerals Ltd - BEARISH BIAS (short term)
- Key levels on the chart - consider taking trades from key support/resistance zones.
Sky high oil prices and tight supply make oil an appealing investment.
A decade of low oil prices and ever-increasing ESG concerns have caused a structural undersupply of fossil fuels. Conflict in Eastern Europe has put further pressure on oil supply across Europe.
- Increased oil and gas pricing globally have made Occidental a cash printing machine in 2022.
- Occidental Petroleum is a US oil giant focused predominantly on shareholder returns through dividends, share buybacks and debt repayment.
- Buffett has a view that oil prices over the coming decade will be much higher than most people expect. Berkshire now owns over 20% of the entire company and has SEC approval to buy a lot more.
- Buffett, also likes the low P/E and Oxy’s focus on returning cash to shareholders.
ASX & Economic Key Events
OPTO For Investors Research
Article of the Day: Will slowing services growth eat into the Apple share price?
Podcast of the Day: Doomberg on Nord Stream sabotage and monetary mayhem
APAC Daily Report
Market Snapshot & Highlights as of 8:00am AEDT
Global Markets Headlines
(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)