Will oil prices soar above $100?
As you’d expect, when oil prices went up, these companies were gushing profits. In Q3 of 2021, Exxon Mobil generated earnings of $6.8 billion, or US$1.58 per share, compared to a loss of US$680 million, or $0.18 per share, in the same quarter the year before. Enterprise Products Partners , for instance, operates approximately 80,000 km of natural gas, natural gas liquid , crude oil, refined products, and petrochemical pipelines. It pays quarterly distributions of 46.5 cents U.S. per unit, translating to an annual yield of 7.8 per cent.
If you don’t feel comfortable trading futures contracts, you can get exposure through exchange-traded funds — which you can buy through— that follow the price of oil. For instance, the United States Oil Fund is an exchange-traded fund with an objective to track the daily changes in the price of WTI crude.
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