Recently, the hot sector in the market this August has been good ole' oil. The environmental, financial and all-around human disaster that is the BP oil spill is finally coming to a close, as efforts to eradicate any remnants of the leak are finally approaching the end stage. Now the focus for BP has turned legal.
On Tuesday, a federal panel appointed a judge to oversee the hundreds of lawsuits brought by injured oil rig workers, fishermen and hotel owners. And while BP and its plaintiffs will be hashing compensatory issues out in the courts, Investors need to start looking at the court of fundamentals to determine which oil service stocks deserve their attention.
Oil has started to breakout past $80 a barrel hitting a high of $82.55 earlier this month. After taking the recent dip back under $80 a barrel, this is the perfect time for investors to jump in before it rally's back higher. Forecast global oil demand for 2010 and 2011 is revised up by 80,000 barrels a day and 50,000 barrels a day respectively. Oil demand is thus expected to average 86.6 million barrels a day in 2010 and 87.9 million barrels a day in 2011. To learn more about oil and the impact of the economy visit www.wallstreetgrand.com today.
We have been on the lookout for an undiscovered oil play in the small-cap arena that we think could have some substantial upside for our members in the near future and we finally think we found it. We have a few oil plays that we are researching right now and the one that we think will perform the best for our club we will be announcing tomorrow after the close.
Disclaimer
Wall Street Grand LLC has not been compensated for this press release. To read our full disclaimer please visit www.wallstreetgrand.com and click disclaimer to view entire legal disclaimer.
