Dan Dicker, energy contributor to thestreet.com, talks with Brittany Umar about the dropping prices of oil. Dicker believes oil prices have dropped rapidly as a result of the very strong rise in the price of the U.S. dollar against other currencies, as well as the speculation that the Saudis are soon to engage in a price war to maintain market share. Dicker believes that the dollar rally has gone too far too fast and will soon stabilize and also discounts the Saudi desire for the full-on price gouging result of a global price war. Both of these factors has led to oil prices and oil stocks that are unusually low and a great opportunity to buy these shares at ‘for sale’ prices. Dicker recommends EOG Resources (EOG) and Cimarex Energy (XEC).
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