Oil over $70 again
I really didn't expect oil to pop over $70 again after July 4th for awhile. I was expecting an oil range upper 50s lower to mid 60s until end of the year. This run up confuses me to be honest. I am starting to think that oil is being held more as an asset than a product. If it stays above $70 this can only but maintain a bullish signal. I would continue to urge integrateds like BP as buys, and even a company like ATPG, which will only but benefit with any sustained "high" price, especially when their Telemark hub opens up. Take a look at it.