News
Oil Transitions Into Trading Market
September 12, 2016
After months of booming and falling it’s beginning to look like oil prices are set to remain in a narrower trading range.
US oil prices are in their sixth month of trading between $40 and $50 a barrel, and though this new normal is frustrating long-term investors, it's easing pressure on oil companies, the Wall Street Journal reports. Yet some investors are taking advantage of the pricing shift by moving in and out of the market quickly to capitalize on small gains, according to Commodity Futures Trading Commission data.
“It’s a trading market if I’ve ever seen one,” says Lee Kayser, portfolio manager at Russell Investments. “It just seems there are a lot of short-term players in the market right now…due to this choppiness.” [WSJ]
