Oil, settling -2.2% to $70.06/barrel, is "more oversold than at any time in the past year,...

|By:, SA News Editor

Oil, settling -2.2% to $70.06/barrel, is "more oversold than at any time in the past year, according to Birinyi Associates, and the best way for investors to take advantage is to buy attractive oil stocks. Oil is currently more than 13% below its 50-day moving average, which Birinyi analysts say is unsustainable, based on an analysis of prices movements going back to 1986.