Mark A. Stansberry was recently quoted in an article about Oil in the Wall Street Journal’s Market Watch website. Stansberry is quoted as saying:
“Because of the potential threats of disruptions, global supply and demand, restrictive legislation and regulation threatening development, and the oil sector on edge due to these potential situations, prices have held their own,” said Mark Stansberry, chairman at energy-management firm The GTD Group.
But Stansberry isn’t convinced that $100 is the floor for oil.
“There are too many moving parts,” he said, pointing out that prices for oil on Thursday gained more than 1% during the session after a U.S. report that showed a decline in weekly gasoline stockpiles and a rise in oil imports. Oil prices also climbed despite a bigger-than-expected rise in crude inventories.
For the full article, click here. (Stansberry’s quote is on page 2 of the article.)