Oil Service Sector and Oil/Gas Pipelines Up Today (NSH, IEZ, USO)
Posted in: Long Ideas, Dividends, Dividends, Specialty ETFs, Intraday Update, Markets, Movers, Trading Ideas, ETFs, Press Releases
The Oil Service Sector as measured by Ishares Oil & Gas Services (NYSE: IEZ) is up 2.3% today while Oil & Gas Pipeline MLPs are broadly up as well. NuStar Holdings (NYSE: NSH), a MLP, is up 2.5% on slightly higher than normal volume today.
Some see oil as acting fairly anemic reflected by US Oil ETF (NYSE: USO) relative to the dollar's weakness over the past 3 months. Oil is down about 2.5% during that timeframe whereas the dollar is at its weakest in a year, and Gold is near all time highs.
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