Oil prices remain well supported by recent platform closures in the Gulf of Mexico ahead of Hurricane Gordon, and Exxon’s warning of a supply crunch in Nigeria.
We recommend buying the dip in Santos near the $6.50 level and also accumulating Origin on the current share price weakness.
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OOO.ASX Oil ETF was added to our ETF model back in June and the ETF is now up 8.5%.
WPL and OSH look expensive at current levels and we’ll wait for the next Algo Engine buy signal before considering these names.
STO
