At the end of the day, following CHK has been an interesting ride. However, I’ve noticed a clear trend. When oil is up or there’s news surrounding oil that suggests that it may climb, the stock heads up.
Considering this, I’m expecting to see more gains ahead. With the recent attack on the largest oil facility in Saudi Arabia and more flexing from Iran, there’s no sign that the geopolitical turmoil in the middle east is likely to end any time soon.
As tensions continue to rise, oil will be at the center of the story. As we know, some of the largest targets in this war will be oil production facilities, refineries and tankers. So, the tensions directly result in risk to global oil production as a whole.
As a result of these tensions and the direct correlation between CHK and oil, I’m expecting to see further gains out of the stock ahead.
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