over the long term, and with civil war started by Iran in Iraq, Hamas in palestine and Iran nukes--the market will realize how serious this Mid East situation is for some time to come and price it in for months. See COP board for analysis
If the oil productions in the mideast continue to be shadowed with those kinds of incidents that happened in the last, the price of oil has to go up to cover the risks. We're gonna see a higher oil price next week when people start to seriously evaluate how volatile the oil supply could be and then price the fluctuations of oil future for another across-board rally on oil related stocks, such as BHI. It is coming.
All the oil service stocks took the same rollercoaster as BHI did on Friday. Everyone of those stocks shot up as the oil future went up dramatically, and everyone of them came down as the future dipped a bit. Not very propotional but very consistent. My take is the US oil reserve's figure and the rig count were the reason for them to dip back to a marginal green.
For the Monday market, the oil future seems to be ready to continue its upward trend. If there is no other bad news for the oil price, BHI and other oil service stocks will climb futher next week. If there is tiny bit of bad news to the stability of oil supply in that region, BHI and its counterpart will shoot up to another high in one or two days.