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Commodities Briefing - Categorized | ETFs / ETCs, Investment, Oil more

Investors Venture Back Into Oil

Posted on 30 October 2008

From Forbes: The oil and gas industry got a rare lift Tuesday as glowing earnings reports encouraged investors back into the sector. The Energy Select Sector exchange-traded fund gained $6.23, or 15.3%, to close at $47.09 and the Oil Service Holdrs ETF added $6.16, or 7.8% to close at $85.35.

Shares of Occidental Petroleum barely reacted to third-quarter earnings growth of 71.5% but the stock did spike after management said capital expenditures would stay relatively stable, implying that its business would do so as well….. Full Article: Source


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VRS - who has written 38538 posts on Opalesque Commodities Briefing.


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