Mon, Jun 16, 2014 10:56 AM EDT 3:07
The price of oil is quickly rising as the tensions and violence in Iraq escalate. David Nelson, Chief Strategist at Belpointe Asset Management says the effects of these higher prices will first be felt in the transport stocks. Then the ripple effect will hurt the bottom line of all stocks that are sensitive to transportation costs. Energy related oil companies have seen their prices rising all year and will probably continue to go higher. Natural gas prices are being effected by Russia's decision to cut off supplies to Ukraine disrupting that market. Energy becomes unhinged.