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ConocoPhillips Message Board

  • save_n_investte save_n_investte Aug 16, 2012 9:04 AM Flag

    Oil Prices Continue to Rise!

    I know that the price rise in oil/gas is causing hardship for many people. But, I'm surely glad that I'm a long in COP and other oil/energy stocks. I'm very well hedged against any rise in oil/gas prices. When the oil/gas prices go up so does the pps and dividends. Article:

    Oil Prices Continue Rally on Stimulus Hopes -- EIA Raises Forecasts for 2012 Oil Prices

    NEW YORK, NY--(Marketwire -08/16/12)- Despite weak global demand oil prices have gained nearly a third during the last six weeks. At the beginning of the week Brent crude prices hit $115 per barrel, the highest it's been in the last three months. Since the end of June Brent crude prices have rebounded roughly 30 percent. The EIA earlier this month raised its forecasts for 2012 oil prices. West Texas Intermediate crude is now projected to average $93.90, up from the previous estimate of $92.83, while Brent crude was increased to $108.07 a barrel from $106.

 
COP
86.02+1.49(+1.76%)Jul 22 4:02 PMEDT

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