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The Rocky Runway

The Premier Petroleum (LSE: PMO) stock market graph seems to be a fairly good indication of the market value of petroleum. This year, when the purchase cost of a single barrele climbed to $86 in the first October trading session, the Premier Petroleum stock reached its highest level to date.

Since then, however, stocks have also given up their profits, while crude prices have been falling since then. The Premier Petroleum (LSE: PMO) stock market graph seems to be a fairly good indication of the market value of petroleum. This year, when the purchase cost of a single barrele climbed to $86 in the first October trading session, the Premier Petroleum stock reached its highest level to date.

Since then, however, stocks have also given up their profits, while crude prices have been falling since then. Now that a barrel has fallen to $72, Premier Petroleum stocks have fallen to their low since May. Surely the same doesn't apply to Enquest (LSE: ENQ) stocks, whose 2018 charts are one of the best I've ever seen.

Over the last 12 month Enquest's stock has fluctuated between the 20th and 40th level, recovered and dropped every few month. This would bring the stock to a very low P/E, but that's perhaps quite comprehensible when we look at the level of debts. However, back to Prime Minister, and (admittedly as a shareholder) I see the stock falling in reaction to the slowdown in petroleum as excessive.

I' ve always felt that premier with prizes of around $70 per barrel Would be fine, and I still think that - I'd have to see significant further prize drops before I'd begin to get anxious again. At the end of the first half, the number was still at $2.

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