By: Eric Winter of Street Authority
Stock exchanges are not alone in seeing prices pull back lately. In at least one case, however, that is actually a good thing.
Drivers both state-side and abroad have no doubt felt the pain at the pump subsiding this fall. In the United States, many gas stations are now hawking unleaded for under $3.00 a gallon -- a welcome sight in my eyes, at least.
Those lower prices have come at a cost to some portfolios, however.
Oil prices have been steadily declining since making highs in June, falling from north of $104 to around $81 at the time this article was written. Considering that nearly every industry is affected by oil in some way, this means there’s a good chance some of your holdings have fallen in tandem.
Naturally, oil explorers, producers, and those along the supply chain have been hit the hardest. Exxon Mobil Corp. (NYSE: XOM), the world’s largest oil company by revenue, has fallen 11% since July. In contrast, the SP 500 is only down 2.6% in the same time period. [Read more...]
Article source: http://www.streetauthority.com/node/30487828