Oil prices are actually still trending downwards, with WTI returning to around 68, but $Occidental Petroleum(OXY.US) and $CNOOC(00883.HK) both rose slightly against the trend today. Cooling geopolitical risks are weighing on oil prices, yet these two oil and gas stocks rebounded first. This looks more like a recovery after valuations became too low, not completely following oil price pricing. If you're holding during this divergence, don't panic too much. As long as oil prices don't crash further, undervalued oil and gas stocks that can't fall further will see capital flow back in.
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