World Search Consultancy
Your Cart is Empty
There was an error with PayPalClick here to try again
Thank you for your business!You should be receiving an order confirmation from Paypal shortly.Exit Shopping Cart
|Posted on December 16, 2016 at 10:44 AM|
Oil Peak Again. The rally on oil appears to have stalled again, despite the world developments that would indicate a strong likelihood of higher prices. The price has peaked in line with previous tops of the past year, and even though the recent peak was a slight new high, it has so far not carried through with an extended gain. This makes it likely that the commodity could pull back to the low end of the recent range of around $45 again. The recent weakening trends of a number of the energy-related stocks adds to the likelihood of a pullback in the price of oil as well, in our view, and suggests that investors should hold off for now on increasing exposure to the group. It is possible that this range that has held oil for most of this year could continue for several more months, with little indication of a larger trend coming in either direction. It’s the definition of a neutral hold. RBC Dickey.
Categories: Chemical Update 2016