In August of 2014 West Texas Intermediate Crude was trading around the $98 range. That was lower than the $105 range it traded in during June of 2014. Today it is trading below $40 a barrel and as oil continues to fall to new multi-year lows, some investors are wondering when the commodity will stop declining and begin once again moving higher. I recently published a piece pointing out a few ways investors can profit from oil continuing to decline. But, if you are like me, believing that the price of oil will eventually move higher from today's levels there are a few different ETF's you can buy to play a move higher in oil.
But first, let's discuss why I believe oil will move higher, sooner rather than later. Currently, West Texas Intermediate crude is trading below $40 a barrel and at that price most, of the oil producers are losing money. The average cost per barrel in the Canadian Oil Sands is somewhere in-between $50-$100 a barrel. In the North Dakota Bakken Shale, the average is around $40-$70 while in Texas it is somewhere around $40-$80 a barrel. In all of North America, only Alaska has a cost per barrel below $40. Continue reading "3 ETF's To Buy If You Believe Oil Is Heading Higher"