The oil service exchange traded fund (ETF) can’t seem to get a grip and is slipping in the wrong direction. The oil services sector tracking stock hit a one-month high before turning slightly lower as of Thursday. Meanwhile, crude prices are rising.

The Oil Service HOLDRs (OIH) slipped 0.3% after being up as much as 1.4% earlier in the session, reports Brigid Gaffikin for CNN Money. It was the fund’s highest level reached since Jan. 17.

Oil ended the week at $95.50 a barrel, fueled by a surge in natural gas prices. The rises in oil are far less than previously expected, though.


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.

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