So, the price of oil has dropped a few dollars. Is this significant? True the hurricane season is just about over for a year and the oil industry in North America is fast getting back on its feet. True world demand appears to have dropped a bit. But for how long?
My guess is that the first really cold morning in New York will start a trend in higher natural gas prices in North America. One analyst has already predicted $20/MMBTU natural gas prices if a bad winter hits. And apparently bad winters often follow busy hurricane seasons.
So I give you my stock picks for the winter: XTO and GSX. Let's see if I have chosen wisely 3 months from now!