Oil prices and stocks to watch

Oil prices remain well supported by recent platform closures in the Gulf of Mexico ahead of Hurricane Gordon, and Exxon’s warning of a supply crunch in Nigeria. 

We recommend buying the dip in Santos near the $6.50 level and also accumulating Origin on the current share price weakness.

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OOO.ASX Oil ETF was added to our ETF model back in June and the ETF is now up 8.5%.

WPL and OSH look expensive at current levels and we’ll wait for the  next Algo Engine buy signal before considering these names.

STO

 

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