Oil Just Topped $109. Is It Too Late to Buy Chevron (CVX)? History Has a Clear Answer.
Yahoo Finance ·
In absolute terms, the difference between a barrel of oil that costs $99 and a barrel of oil that costs $101 isn't much. But psychologically, that difference is immense. At the end of the day on Tuesday, a barrel of benchmark Brent Crude oil cost $99.07, but early this morning, it was going for $101.02. Throughout the day, the price climbed higher, briefly topping $109. As of this writing, the per-barrel price of the global benchmark is over $108. That's bad news for just about everybody... except shares of U.S. oil companies like Chevron ( CVX -0.49% ) and ExxonMobil ( XOM +0.61% ) . But now that oil has broken through the $100/barrel threshold, is it too late to buy shares of Chevron?
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