How do you go about investing in the rising trend of Oil? Do you pick up stocks that are drilling for oil or is there something more to it? Is their other sectors apart from mining that do well out of an oil increase? Whats good on the asx? Thanks in advance for any advice!
Investing in Crude Oil?
- Thread starter serp
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Watch Woodside petroleum, it tends to rise when the price of crude goes up. People tend to buy it even when it is well overvalued. The high oil prices tend to change the fundamentals too quickly I think.
It was about $23 a few weeks ago and now it's over $26.
It was about $23 a few weeks ago and now it's over $26.
Resources is a very vast topic...especially when it comes to oil.
Be careful to observe where the drilling is being done and to check out the futures. Be it Texas, Gulf of Mexico,Northern Europe, Africa or Australia.
Many companies drill with oil also a certain % on natural gas. Even if the price is similar, your dealing with two different markets.You can invest in companies that deal alone with the discovery or finding of oil.
There are also manufacturers of machinery for drilling.
If your new in the buisness; even if the price is soaring, I would first put about 10 companies on your watchlist and do a bit of research for at least 6 months before buying anything.
Following are a few addresses where you can accumulate a bit of news.
http://www.topix.net/business/oil-gas
http://www.gas.com/
http://www.nymex.com/jsp/index.jsp
Happy research
Be careful to observe where the drilling is being done and to check out the futures. Be it Texas, Gulf of Mexico,Northern Europe, Africa or Australia.
Many companies drill with oil also a certain % on natural gas. Even if the price is similar, your dealing with two different markets.You can invest in companies that deal alone with the discovery or finding of oil.
There are also manufacturers of machinery for drilling.
If your new in the buisness; even if the price is soaring, I would first put about 10 companies on your watchlist and do a bit of research for at least 6 months before buying anything.
Following are a few addresses where you can accumulate a bit of news.
http://www.topix.net/business/oil-gas
http://www.gas.com/
http://www.nymex.com/jsp/index.jsp
Happy research
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Better off to invest in companies doing alternative energy.........
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