Oil Stocks Benefit From Rising Prices

September 27, 2021

Oil reached new highs overnight, Brent climbing over $79 and WTI over $74 respectively.  The cause for this move is most likely due to a drop in demand with the Hurricane Ida fall out and a rise in demand as the Delta Variant COVID surge tails off.   This caused yet another major investment bank to raise its forecast for the commodity, Goldman Sachs raised its year-end price target for Brent…