What oil’s six-week win streak means for stocks

Oil prices have risen for sixth consecutive weeks, notching an 11% gain for crude during the rally. While a pullback could occur — the oil trade was close to flat on Tuesday as overseas supply threats balanced higher U.S. inventories — recent history suggests there are more gains to come, not just in oil but also in stocks.

Similar six-week oil rallies have happened only five times since 2010, according to a CNBC analysis of Kensho, a big data trading tool used by Wall Street banks and investment firms.

While oil has tended to pull back slightly the week after a six-week period of gains, two weeks later it starts to move higher again, and a full month later oil locks in additional gains.

WTI crude has traded higher more than 80% of the time and tacked on an additional average gain of more than 2.5%.

The S&P 500 also traded higher, although it had more modest gains.


SOURCE: https://www.cnbc.com/2019/04/16/what-oils-six-week-win-streak-means-for-stocks.html

NAVIGATION

CONTACT US

(469) 518-0099   admin@sofiexploration.com

6136 Frisco Square, Suite 370,  Frisco, Texas 75034

Our Sofi Exploration Team thanks you for the time and effort in evaluating our partnerships. For any further information, please feel free to call Jennifer Medina at (469) 518-0099
Sofi Exploration | This content is provided for informational purposes only. Information on this website is not intended to be a solicitation of any kind. Nothing herein shall be construed as tax, legal or accounting advice. Investing in oil and gas is highly speculative and could result in substantial losses. Potential investors should consult their attorney, accountant and financial advisers before investing in oil and gas. Past performance is not a guarantee of future performance or returns.
Copyright © Sofi. All rights reserved.
  • Insta-web-ready
  • facebook icon-01
  • Manta-01
  • linked in-01