Dan Dicker, energy contributor at thestreet.com, talks with Jim Cramer about both the positive and negative fundamentals working on the price of a barrel of oil. On the negative side, OPEC members are poised to pump relentlessly with Iran and Libya ready to add to the global glut. On the positive side, lower gasoline prices have increased demand and there are some indications that US production is beginning to decrease, particularly in the Bakken shale plays. This has led to an uneasy equilibrium in oil prices of around $60 where prices have been since May. Dicker believes the next move is probably lower, but will not recommend anything in the oil patch until this strange price pattern has been broken.
More from Video
One Tweet Pulls the Rug Out From Under the Indexes
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
A Technical Look at the New Dow Jones Industrial Average
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
Conagra Brands Looks Tastier After Its Upgrade to Buy
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.
Biogen Bulls Get a Lift From Quant Upgrade and Strengthening Charts
Breaking down an approach to the long side of this biotech stock.
Is Renewable Energy the Defensive Stock Opportunity You're Missing
AMSC CEO discusses that and China challenges.
Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation.
If you have questions, please contact us here.