Oil-Weighted Stocks to Watch

Market Realist

US Crude Oil above $50: Which Oil-Weighted Stocks to Watch

On May 22, 2017, WTI (West Texas Intermediate) crude oil (USL)(DBO)(USO)(OIIL) futures for July delivery settled at $51.13 per barrel–~0.9% more than the previous settle price. Bullishness may have been due to OPEC’s meeting in Vienna on May 26, 2017. OPEC members could extend their production cuts to March 2018. Between May 15 and May 22, 2017, US crude oil July futures rose 4%. The recent fall in US oil inventories may also have contributed to oil’s gains.

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