Crude oil reached above $66 a barrel for the first time in over two years this week. The price held relatively steady above $50 for most of 2017, but with this recent push the $70 price level is easily in sight. The current crude price still pales in comparison to what it was in 2014.
The January 12 short interest data have been compared with the previous figures, and short interest in these selected big oil stocks increased.
Chevron Corp. (NYSE: CVX) saw its short interest increase to 23.41 million shares from the previous reading of 21.86 million. The shares were last seen trading at $130.85, in a 52-week range of $102.55 to $133.88.
Short interest in Exxon Mobil Corp. (NYSE: XOM) increased to 36.70 million shares from the previous 33.66 million. The stock traded at $88.50, within a 52-week range of $76.05 to $88.92.
BP PLC (NYSE: BP) short interest rose to 7.21 million shares from the previous reading of 6.70 million. Shares traded at $44.45, in a 52-week range of $33.10 to $44.20.
The number of ConocoPhillips (NYSE: COP) shares short increased to 24.60 million from the previous level of 22.96 million. Shares were trading at $60.15, within a 52-week range of $42.27 to $61.32.
Short interest at Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, increased to 45.15 million shares from the previous 43.19 million. The stock traded at $13.30 a share, in a 52-week range of $7.61 to $13.34. Unfortunately, Petrobras may be trading on an entirely different set of fundamentals and sentiment due to its ongoing woes in Brazil.
Occidental Petroleum Corp.’s (NYSE: OXY) short interest increased to 11.77 million shares from the previous reading of 11.32 million. Shares recently traded at $77.60, in a 52-week range of $57.20 to $78.09.