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By Malcolm Stacey | Wednesday 11 April 2018
Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Hello, Share Cakers. As troubles in the Middle East mount, it’s natural that oil prices will rise. And as I write, the cost of Brent crude has hit a new high. Not a record of course, as the price was once twice what it is now.
But the current level of over 70 dollars a barrel is a heck of a lot better than the 40 dollars oil was fetching a year or so ago. And as those Middle Eastern problems will sadly not improve soon, we can see the ebony nectar becoming ever more valuable. That’s only my opinion, mind.
Don’t forget, gang, that the Russians and the Americans are deeply involved in the Middle East madness - and both of those superpowers are big producers of the black stuff. When big suppliers of oil square up against each other, the price of their exports tends to rise. When the war started in Yemen, the price of oil rose. And now, with hostilities in the Middle East escalating, it’s happening again. And it’s happening, even though the US is beginning to produce even more fracked oil.
The Middle Eastern tragedy is appalling. We all wish it wasn’t so. And the fact that it will boost the value of our oil shares is no compensation whatsoever for the murder and cruelty going on.
But nevertheless the value of British oil giants, like BP (BP.) Shell (RDSA) and Tullow (TLW) have, in my humble view, not yet caught up with the rising value of Brent crude. Therefore, we possibly have a buying opportunity here.
And now back to the Punter’s Return.
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