Why $100 Oil Is Great News for These 8 Stocks

By Larry Gellar Oil prices are hovering around $100 after sharp moves between $114 and $90 for a barrel of West Texas Intermediate. Brent crude prices have diverged in 2011, and nearly reached $130 amid the turmoil in Libya during the Arab Spring uprisings. Current Brent prices are around $114 per barrel. Here are names we have investigated that do not yet reflect current oil prices: Exxon Mobil (XOM): As one can imagine, Exxon Mobil runs numerous oil fields in the Gulf of Mexico. In turn, the price for oil from these fields is usually determined based on the going price for a barrel of West Texas Intermediate. Exxon Mobil stands to make a serious profit because the price for West Texas Intermediate has been going up. In fact, the price for West Texas Intermediate is expected to continue to increase as the economic recovery continues. As businesses in the U.S. expand, demand for oil will certainly go up. Although Exxon Mobil's share price has increased in previous days, there is still room for further upside. Exxon Mobil is also well positioned to take advantage of the increasing price of Brent crude. More specifically, Exxon Mobil has a rather large holding in the Brent fields. Chevron (CVX): [...]

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