Oil prices started soaring this year by forcing many companies to pay huge transportation expenses. To get them to go down political forces are here to assist. If the Saudi government increases oil production the oil prices will decline instantly closer to $33 as it was during the 2020 lockdown.
Energy stocks have also soared in March. Houston American Energy shares jumped from $1.43 to $11.30 in a day. Overall prices for essential products have also slightly grown due to expensive transportation costs.
HUSA is going to enjoy high oil prices not so long as Western countries and Saudi Arabia may quickly make an agreement to dump the oil prices by pumping productions cosmically high in a matter of days. Therefore going short for energy stocks could be a wise decision for experienced stock traders.