Why this Oil Price Surge is Serious

Oil prices had reason to collapse Wednesday morning after data showed a massive build in crude oil inventory. Yet, more commentary from OPEC members and Russia about a potential emergency meeting managed to offset the impact. But it was more than just that Wednesday, as severe dollar depreciation served commodities as well. Because a variety of important factors are behind this latest oil price rise, it is stalwart. Whether it stays that way depends on U.S. economic developments, Fed speak, the value of the dollar, OPEC production and U.S. oil production. See Why this Oil Price Surge is Stalwart.

Energy Sector Issues	02-04-16 10:30 AM ET
SPDR S&P 500 (NYSE: SPY)	+0.4%
iPath S&P GSCI Crude Oil (NYSE: OIL)	+2.5%
Energy Select Sector SPDR (NYSE: XLE)	+1.5%
SPDR S&P Oil & Gas E&P (NYSE: XOP)	+2.2%
Market Vectors Oil Services (NYSE: OIH)	+4.2%
Direxion Daily Energy Bull 3X ETF (NYSE: ERX)	+3.1%
Exxon Mobil (NYSE: XOM)	+0.1%
Chevron (NYSE: CVX)	+0.9%
Schlumberger (NYSE: SLB)	+1.8%
Halliburton (NYSE: HAL)	+4.0%

Please see our disclosures at the Wall Street Greek website and author bio pages found there. This article and website in no way offers or represents financial or investment advice. Information is provided for entertainment purposes only. Article interests energy investors including Exxon Mobil (NYSE: XOM), BP (NYSE: BP), PetroChina (NYSE: PTR), Petrobras (NYSE: PZE), Royal Dutch Shell (OTC: RYDAF.PK), Total (NYSE: TOT), Chevron (NYSE: CVX), Repsol (OTC: REPYY.PK), ConocoPhillips (NYSE: COP), Eni SpA (NYSE: E), Sasol (NYSE: SSL), Encana (NYSE: ECA), Suncor (NYSE: SU), Imperial Oil (AMEX: IMO), Statoil (NYSE: STO), Cenovus (NYSE: CVE), Transocean (NYSE: RIG), Penn West Petroleum (NYSE: PWE), Continental Resources (NYSE: CLR), Noble (NYSE: NE), Concho (NYSE: CXO), Diamond Offshore (NYSE: DO), Ensco (NYSE: ESV), Whiting Petroleum (NYSE: WLL), Nabors (NYSE: NBR), Pride International (NYSE: PDE), Helmerich & Payne (NYSE: HP), QEP Resources (NYSE: QEP), Enerplus (NYSE: ERF), Rowan (NYSE: RDC), Cobalt (NYSE: CIE), Patterson UTI (Nasdaq: PTEN), SandRidge (NYSE: SD), Schlumberger (NYSE: SLB), Halliburton (NYSE: HAL), National Oilwell Varco (NYSE: NOV), Baker Hughes (NYSE: BHI), Weatherford International (NYSE: WFT), Cameron (NYSE: CAM), FMC Tech (NYSE: FTI), Oil States International (NYSE: OIS), Superior Energy (NYSE: SPN), Carbo Ceramics (NYSE: CRR), Helix Energy (NYSE: HLX), Pioneer (NYSE: PXD), CNOOC (NYSE: CEO), China Petroleum and Chemical (NYSE: SNP), Ecopetrol (NYSE: EC), Canadian Natural Resources (NYSE: CNQ), Apache (NYSE: APA), Anadarko (NYSE: APC), Devon (NYSE: DVN), EOG (NYSE: EOG), Chesapeake (NYSE: CHK).