In the past month energy prices have been rising. Oil prices reached $68 a barrel and it is possible they may go on to $70. Pressure on prices is coming from Iran, Nigeria and new threats from bin Laden.
Beneficiaries of the higher oil prices are energy stocks and ETFs. Currently the top 3 ETF performers for the year are PowerShares Dynamic Oil and Gas Services (PXJ), up 16.9%, iShares MSCI Brazil Index (EWZ), 14.8% and PowerShares Wilderhill Clean Energy (PBW), 13.6%. The two energy ETFs are obvious, but Brazil is included too, as energy stocks are among its top holdings.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.