Re: Benchmark oil price volatility
Personally I think what works is to accept that demand is an issue and so is supply, when OPEC has to cut supply that is trouble because then even if demand increases, prices will not go up because OPEC will be able to increase supply. 2020 and 2021 were great times to buy oil stocks, but now all the easy money has been made. I own just a few oil producers that pay good dividends (FRU, CJ and CPG) but do not expect to see a lot of price gains for the stocks, I will just keep collecting the dividends knowing that my energy bills each month are fully paid by energy dividends, but that is it.
So all said, since I think oil is basically range bound but choppy, I am looking at other stuff. I have looked at banks, but they are not without their own issues in the short-term, but at least pay good dividends and will one day recover to the upside and interest rates decline. Also, gold stocks have remained cheap even though the gold price has gone up, copper stocks are also cheap even though copper looks to have a good future ahead of it. Lastly, CASH is great right now, I put half my money in the following ETFs (CASH, CSAV and PSA) all invest in high quality bank debt and pay out the earnings every month, currently the monthly payout works out to about 5% per annum, this adds significantly to my monthly income while I keep the money in reserve for when markets look better.
And of course I have at least a dozen pure exploration junior where the drill bit counts more than the markets.