The WTI crude oil price just hit its highest price in 2 1/2 years. We need to know what’s driving it to decide if we should buy some oil producers.
Saudi Arabia does a masterful job of talking the price of oil higher. And without ever taking any action, that has had an impact on oil prices.
There’s good news for oil companies. The headlines lean bullish for oil lately. And there’s money to be made in the energy sector right now.
Oil prices have been stuck around $50 a barrel since they collapsed in 2014. But oil may now be finding a bottom and heading higher.
Prices are up all over the U.S. from this time last year. However, we are still paying far less for gasoline today than we did for most of the last decade.
In the 21st century, an army needs more than food and ammunition. Modern armies need vast amounts of oil to win.
The oil business isn’t shutting down anytime soon. That means these stocks are valuable, even though their shares are plummeting right now.
There is a clear downward trend in the seasonal pattern for this commodity that is set to last until the end of the year.