Short Sellers Can’t Make Up Their Minds on Major Oil

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Crude oil was trading near $73 a barrel on Wednesday. This has been an incredible comeback this month since oil dipped below $64 about two weeks ago. But the current crude price still pales in comparison to what it was in 2014.

The June 15 short interest data have been compared with the previous figures, and short interest in these selected big oil stocks was mixed.

Chevron Corp. (NYSE: CVX) saw its short interest increase to 21.26 million shares from the previous reading of 19.62 million. The shares were last seen trading at $126.21, in a 52-week range of $102.55 to $133.88.

Short interest in Exxon Mobil Corp. (NYSE: XOM) increased to 34.50 million shares from the previous level of 34.16 million. The stock traded at $81.71, within a 52-week range of $72.16 to $89.30.

BP PLC (NYSE: BP) short interest decreased slightly to 5.01 million shares from the previous reading of 5.21 million. Shares traded at $45.86, in a 52-week range of $33.90 to $47.83.

The number of ConocoPhillips (NYSE: COP) shares short dropped to 17.34 million from the previous level of 18.27 million. Shares were trading at $68.71, within a 52-week range of $42.27 to $71.71.

Short interest at Petroleo Brasileiro S.A. (NYSE: PBR), or Petrobras, increased to 63.71 million shares from the previous 47.03 million. The stock traded at $9.91 a share, in a 52-week range of $7.64 to $17.20. 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 decreased to 8.60 million shares from the previous reading of 8.98 million. Shares recently traded at $83.69, in a 52-week range of $57.84 to $87.67.