Optimism Creeps Back into Oil and Gas Stocks
Source: Seeking Alpha, Kurt Wulff (3/4/09)
"Oil and gas stock prices are gradually tracing a more positive price trend since the stock market low in October 2008."
Moreover, the steep decline that started last summer has leveled out for the past few months. Recent strength in the oil-refining margin measured by the 321 Crack points to possible positive cash flow and earnings comparisons to the first quarter a year ago for the downstream business of integrated companies.