Joe Terranova Offers Advice On Oil Companies

Fast Money’s trader Joe Terranova advised investors who are bullish on oil to get long Suncor Energy (NYSE: SU), Petrobras (NYSE: PBR) or Hess (NYSE: HES). He also mentioned Cameron (NYSE: CAM) and Weatherford (NYSE: WFT) as interesting stocks. Joe Terranova said that these companies are more attractive right now than United States Oil Fund (AMEX: USO).

All of the above mentioned companies closed Tuesday’s trading session in the green zone. United States Oil Fund (USO) was the best among them with an increase of 5.15% and Weatherford (WFT) gained 4.2%. Suncor Energy (SU) added 4.07% while Hess (HES) also finished strong with a 3.46% plus. Oil prices went 4.78% up to $71.27.

RiverTrade’s Zach Karabell said for CNBC’s Fast Money that oil will trade between $60 and $80 for a while. RiverTrade doesn’t expect oil to make a serious break out until we have a major recovery globally and a significant increase in demand.