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Is it Time to Invest in Oil? | PowerOptions Web Log
As expected with the coming of the summer months, oil prices have surged over the last couple of weeks from $40 to $60. Fueled by a slew of recent economic data which points to an easing of the recession, investors have been snapping up oil stocks as well as increasing their trade positions in the commodities market. Upward pressure from economic data, which suggest future supply, will be cut at an even more rapid pace than demand is dropping and political turmoil in the Nigeria’s oil rich south will help to lengthen black gold’s recent success. For the first time in 10 weeks, the EIA reported that crude inventories are finally falling. This is a trend, which many expect to likely continue at least through the summer months as consumers ramp up their traveling plans for vacations. This leaves investors to wonder, Which companies stand to benefit from rising oil...