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Edward Silver's  Instablog

Edward Silver, a former investment columnist and growth stock analyst, writes about investing in energy, technology and sustainable industry in Los Angeles. He can be contacted at es94109@gmail.com.
  • Oil's Rise and Fall .... and Rise

     

    The world consumes 30 billion barrels of oil a year. Without it, our food doesn’t make it to the supermarket and our flights to Hawaii are grounded.  Too bad the price is set by such a moody bunch.

    Crude gained a moderate 3.2% in futures trading last week, but prices seesawed along the way. Again, bulls won the tussle. An $85-a-barrel yearend forecast from Goldman Sachs and hints of economic recovery -- including surprising strength in Chinese manufacturing -- overshadowed  flush oil stockpiles and other dismal data indicating a weak appetite in the United States, which still devours almost a quarter of global output. Even before the encouraging signs started flashing, oil was sizzling. Prices have more than doubled since crude visited the low $30s in February.

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    Tags: USO, DBO, OIL, XOM, CVX, COP, RIG, NE, Energy
    Jun 08 04:07 am | Link | Comment!
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