Oil Prices Spike 12%
Dec 11th, 2008 by Shaun Carter
As I have been expecting, crude oil has begun its runup from the $40/barrel low it touched recently. With OPEC announcing what could amount to an unprecendented production cut at their upcoming meeting and the expectation that oil should remain at around $75/barrel, I think there is a lot of upside potential and am heavily invested in Canadian Royal Trusts. I am aiming for an oil price target of $60-65/barrel by March which is when my option contracts expire. A move to that price range would provide a nice profit and continue the CanRoys ability to pay out decent dividends.
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