Oil - Black Gold

Lexus1976

Oil prices slipped this evening as investors pulled money out of commodities and into the US dollar. US crude fell 46 cents to $72.01 a barrel, while London Brent fell 27 cents to $71.28.

Oil was also under pressure from a government report this week showing growth in US refined fuel inventories, with distillates at their highest since 1983. Oil's losses were limited somewhat by mild gains on Wall Street.

Some analysts said oil prices could move higher in coming weeks as some recent positive economic data supported expectations that a global economic revival was under way and energy demand would soon recover.

Article taken from rte.ie http://www.rte.ie/business/2009/0918/oil.html


What oil stocks do you own and have they been performing well?

seven-iron

Some analysts said oil prices could move higher in coming weeks as some recent positive economic data supported expectations that a global economic revival was under way and energy demand would soon recover.

Have you got their names? They sound like idiots and they are wrong for two reasons.
Firstly because their views are contrarion to my own and secondly because the weaking USD tells me that there is no appetite for consumtion. No consumption no economy. Also, if you were to look at an oil 200 week moving average curve which is flattening to near horizontal pointing to a bear trend in the black stuff in Q4. oil not guinneas now.