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Oil Climbs to 3-Month High

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  • Description

    FBN’s Sandra Smith breaks down the move in crude prices.

  • Duration 1:40
  • Date

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This transcript is automatically generated

It's really -- -- to sniff test the trade force today center -- how -- -- while a couple of weeks ago and I've got on the floor of the commodities exchange I was telling traders.

You know we've got a lot of bearish fundamentals as far as supply in this country.

-- was still very bullish when it came to oil and in fact -- take a look at it today after another full percent a look at does your knitting class we're now sitting at the highest levels of the year.

But if I branches out to say a three month chart is it worth the highest level that we've been in months and crude oil prices.

We're now topping 95 dollars a barrel to fact -- Dominique Churchill over the energy management city feels like it.

Making -- feel a little bit heavy yet these lofty levels but one thing's for sure when you start to care -- near a hundred dollars a barrel it's still a good thing for the big energy companies I wanna point out Chevron.

And Exxon in the -- -- your big oil -- there's some of the biggest leaders in the Dow thirty right now also point out ExxonMobil.

Rex Tillerson the CE over -- -- He found hundred dollar sort of -- sweet spot.

For the big oil companies they don't like it when it gets much higher than that but they do like this sort of ninety to a hundred dollar range.

For their profits especially as they're exporting more oil fields in the United States.

One thing that's -- wanna -- -- here's the energy sector itself as oil tops 95 dollars a barrel.

Look at a lot of the exploration companies.

That might there they're seeing.

Big lofty levels big jumps in today's trading session -- -- Connell stories sort of that.

Fragile point where they get Q hi and then they don't like it anymore but right now a lot of the investors are liking these levels for the energy company -- have a look.

A look at a couple of the big oil companies that are reporting that could eccentric thank you very much stand out.

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