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Zev Fima: Let's talk oil. So the Trump administration has said that they're not going to extend the waivers on Iran. So basically everyone's got to get in line with these sanctions. Jeff, any takeaway?

Jeff Marks: Yep. So you're, you're seeing oil spike up today in reaction to this news because obviously there's, there's a lot of oil that's going to be coming off the market. Now the question is, of course, is can OPEC kind of turn on the spicket so to speak? And if we make up for that oil, we've already seen president Trump tweet out this morning, you know, kind of calling for OPEC to do that. And I think that's something that investors should kind of look out for, right? Because if you are trying to play the oil, you know, make an oil play, what we've seen from time to time, whenever oil has kind of gradually, you know, made a move higher, is the president calls for a oil to take another step down. Why? Oil the price of oil is a natural headwind economic activity. You know, it's, a input costs for many a economically sensitive companies and also higher prices at the pump, that's going to take wallet share out from the consumer. And you know, consumer, the economy is huge. So I think that's kind of two themes to look out for because higher oil, although it was a tailwind at the start of the year, but now it's kind of shifting more into that headwind space.

Zev Fima: Right. And those are two sectors that kind ofset each other. Consumer, consumer discretionary and the energy sector for exactly that reason. Higher prices at the pump makes means less wallet share available for consumer discretionary. One other thing I would note, and we write about this every single week on the weekly roundup. So if you want ongoing coverage of OPEC, anything impacting the oil market, be sure to get over to Action Alerts PLUS. One other thing I would say is OPEC is expected to meet in July and Russia has come out and said that if America is going to keep pumping at these record levels right now we're doing 12.1 to 12.2 billion, excuse me, million barrels per day out of the Permian. Russia has said that they are going to potentially come in and cut back on, well reduce the cutbacks.

Jeff Marks: So yeah, so OPEC's actions, they've done exactly what they've wanted to do, what their goal was is they've stabilized the market, but now we're kind of seeing up until even this Iran, this new sanction is that the market is beginning to tighten and that's why prices have been higher. So I mean we're getting this 2% spike today. We'll kind of see more plays out. There's also trade war implications with China because China also deals a lot with Iran. So we'll have to see how that responded, if that causes any slip ups and the current negotiations. But I think the price of oil is really something to keep an eye on in this market.

Zev Fima: Right. And with Halliburton being the stock of the day, I know for a fact Sarge is going to be talking about the over on Real Money. We'll be covering on Action Alerts PLUS.

Oil prices surged more than two percent to over $65 per barrel for the first time in six months after the White House announced that it will remove waivers for Iranian crude purchases. The waivers, which were granted in November 2018, are set to expire on May 2.

In light of the news, Jeff Marks, Senior Analyst for Action Alerts Plus, shared two themes investors should be looking out for this week in the oil space.

"The price of oil is a natural headwind for economic activity," Marks said. "You know, it's an input cost for many economically sensitive companies and also higher prices at the pump, that's going to take wallet share out from the consumer." 

Marks added that the hike in oil prices could signify a turnaround for the larger energy market.

"Although [higher oil] was a tailwind at the start of the year, it's kind of shifting more into that headwind space."

The Iran waivers are the latest in a series of events that have choked global supply and lifted prices from the 18-month nadir they reached on Christmas Eve.

Related. There Are Many Reasons Why I Prefer Schlumberger Over Halliburton

Related. Oil Prices Surge After White House Removes Waivers for Iranian Crude Purchases

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