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Petroleum Refining and Oil Prices: Is it Time to Dig into Oil and Energy Stocks?

April 26, 2017Dig energy Oil Petroleum prices refining stocks time

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Petroleum Refining and Oil Prices: Is it Time to Dig into Oil and Energy Stocks?

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Sector Model Portfolios Repositioned Sugar Land, TX July 1, 2009 Weakness in the U. S. dollar and hopes of an improving global economy have thus far pumped up the price of oil. Oil has nearly doubled in price over the past three months. While oil is taking its cue from the U. S. dollar on a day-to-day basis, the uptrend appears to be running into resistance in recent trading sessions. News of unrest in nations like Iraq and Nigeria has failed to spike oil prices. The reality of slack product demand is seeping into the oil pits.