10 Best Oil Stocks To Buy Right Now
Yes, it is true. Oil stocks went up a lot since the end of October. No, it isn’t too late to buy them.
Cyclical investing is the easiest investment strategy when we are coming out of an economic contraction. That’s when it is really safe to buy beaten down (but not out) cyclical stocks. There are still a large number of investors on the sidelines, that’s how we know that we can generate large returns by snapping up cyclical stocks before more conservative investors start coming out of their bunkers.
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Due to the uncertainty that COVID-19 was going to have on the global economy in general, and crude oil specifically, West Texas Intermediate (WTI) front-month futures contracts closed at a negative price in April 2020. WTI represents the price for future delivery of a barrel of WTI crude oil. Since June 2020, WTI front-month futures contracts have traded between $34-$43 per contract. As of December 2020, WTI closed above $46 for the first time since early March 2020.
Source: Bloomberg L.P. Data from June 1, 2020 through December 3, 2020
There are a pair of exchange traded notes that offer sophisticated investors exposure to oil stocks who believe that WTI and relatedly, large oil company stocks may rise or fall in the future.
Thursday, 10 Dec 2020 09:42 PM MYT
A United Airlines passenger jet takes off with New York City as a backdrop, at Newark Liberty International Airport, New Jersey December 6, 2019. Reuters pic
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NEW YORK, Dec 10 United Airlines said today that the company plans to totally offset its greenhouse gas emissions by 2050 through a technique that captures carbon directly from the atmosphere and stores it in the ground.
United said it plans to invest several million dollars in a company that specialises in such technology, 1PointFive, which was created by Occidental Petroleum Corporation and private equity firm Rusheen Capital Management, according to a statement.