So with the OPEC news today, the Biden administration said they’re going to release another 10 million barrels from the strategic petroleum reserve in November. I’m assuming that after the midterms they won’t release anymore because it’s already at its lowest level since 1984.
MY QUESTION: Assuming the price of oil in the United States would spike after the midterms, what is a stock or ETF to buy right before?
Thanks!
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XLE is the main sector ETF. There are some others, but hard to make a case for them over this.
USO and BNO gives you exposure to the commodity itself.
You have to really research oil and gas companies to play individual tickers, so if you aren’t familiar with them already, perhaps not a good idea.
USO
Oil or uranium?
Big fan of Schlumberger. Not an oil company, but if you work in the industry- you have likely worked with them. They are everywhere.
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