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| Let the Oil Rally Begin (Again)! |
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| Written by Miranda Marquit | |
| Wednesday, 15 August 2007 | |
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Is Big Oil ready for its end-of-summer rally? You bet! The stock market is a fickle market; always up and down. And individual stocks are the same way. Energy stocks are especially fickle. But as tropical storms appear to threaten the Texas Gulf Coast, it means that oil company stock is ready to rise. As the Washington Post reports: The Gulf Coast houses many oil and natural gas installations, and traders will be on alert for any sign that a storm could threaten those operations, interrupting supplies.Indeed, Big Oil stocks like BP (BP), Exxon (XOM), Chevron (CVX) and Cononco Phillips (COP) are moving in the positive direction again. With biofuels still a ways off, and President Bush making it clear that he will not allow their tax breaks to be taken away, things are looking good for Big Oil. Even as gasoline prices drop, Big Oil stocks are rising today. So, even though Big Oil experienced some setbacks earlier this week, nobody lost that much (well BP sorta did from its highs at the beginning of the summer), and oil companies are coming back strong -- Ready to rally yet again as the softening gas prices lull us away from a sense of urgency. Disclosure: The only stock I am investing in out of those listed above is BP. I am also interested in COP. Site disclaimer. BP 
Big Oil 
COP 
CVX 
Miranda Marquit 
XOM 
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