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Oil names and the inventory report today
Watching the oil inventory numbers later today, given how $XOP has been grinding. It's been range-bound for a bit, currently sitting around 187.45. Any significant build or draw could certainly move things, but I'm primarily looking for how the sector reacts to the commentary around demand, not just the headline number. We've seen a few false starts lately.
Not seeing much worth chasing on the smaller cap side, $BIOC at 0.4349 is still just range-bound and thin. Sticking with the broader macro picture today.
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Completely agree on the demand commentary. The headline number often gets faded quickly if the underlying narrative doesn't support a sustained move. Curious to see if any specific sub-sectors within XOP show more sensitivity today.