Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

Energy Stocks Lead The Market Ramp As WTI Nears $72

Courtesy of ZeroHedge. View original post here.

US Energy stocks are surging this morning on the heels of the continued ramp in WTI – now nearing $72 – as a tougher US stance on Iran sanctions (and a massive crude draw reported by API overnight) is trumping Saudi production ramp headlines.

“Saudi Arabia faces the daunting, if not impossible, task of managing the oil market; prices are going to stay elevated,” said Victor Shum, a vice president at consultants IHS Energy. “The uncertainty over Iranian crude supply is going to cast a shadow over the oil market. The cut in supply may be even bigger than thought, depending on how successful the U.S. is in getting countries not to buy Iranian oil.”

XLE is on track for the best quarter since 2011… and broke above its 50DMA today…

However, while energy stocks are ramping today, they don't seem convinced that crude's gains will hold…


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!