The price on crude oil has been on an upward streak, and some analysts believe that companies may show great results next quarter, writes Katie Little for CNBC.
“I think one of the things to keep in mind is next quarter, we’re probably looking at good numbers once again,” commented Blake Fernandez, a research analyst for Integrated Oil and Independent Refiners. “When I look at analyst expectations for crude prices, whether it be for WTI or Brent, I think they’re well below spot [current]prices.”
Fernandez expects that analysts will begin to revise upward third-quarter predictions.
Oil prices could see more volatility as the U.S. hurricane season arrives.
- Energy Select Sector SPDR Fund (NYSEArca: XLE)
- U.S. Oil Fund (NYSEArca: USO)
- PowerShares DB Oil Fund (NYSEArca: DBO)
- U.S. 12 Month Oil (NYSEArca: USL)
For more information on the energy sector, visit our energy category.
Max Chen contributed to this article.