Oil Prices Due For A Pop

Oil prices which saw a very sharp decline last week, will probably be moving up this week or the next, giving a boost to oil related stocks. Traders should start taking a position in stocks such as Apache (APA), Anadarko Petroleum (APC) and Chesapeake Energy (CHK).

These stocks gave back some of the incredible gains they’ve made this year last week, on the decline in oil prices. Unfortunately, the major market drivers such as geo-politics and yes speculation, should kick in soon and the usual rhetoric from Iran and oil traders looking for a higher move, thus buying oil, will factor in to move prices higher.

We are currently dodging a major bullet, as tropical storm Dolly which is currently in the Gulf of Mexico is expected to have minimal impact on production, so oil shares were little changed to down in overnight trading.

oil pricesanadarkochesapeake energyapacheAPC