30.10.2008 - Investors Venture Back Into Oil
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