Spin - dont you just love it -In recent days the spin has been that the high price of oil could derail the economic recovery. Ergo oil stocks have been under recent downward pressure (BNK seemed to buck that trend but a great many oil stocks have given back ground last week and yesterday).
Today I read on the pre market comment on Web broker < the recent drop in oil prices could lead to a decline in the energy sector >.
Now let me see if I've got this right.
Higher oil prices are bad for energy stocks.
Lower energy prices are bad for energy stocks
Go figure !!