DBO PowerShares DB Oil: Oil on the way back up

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	Mike Barkett
	Washington, DC User since Nov 2007	56
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Oil on the way back up

I originally bought this oil ETF in this price range, but for some reason did not write an article about it. Along with all oil and gas prices, DBO has pulled back abruptly in the past couple of weeks, but this adjustment seems to be temporary. The politics of the primaries and domestic issues have taken some of the popular focus away from tensions in the middle east that (surprise!) have not magically gone away while we bicker about the definition of marriage. Once our attention turns back to those topics, we'll see more speculation in oil and rising prices.

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What People Are Saying...

Henry Chinaski said at 5/18/12 4:04 PM Price action was $26.13 -0.43 (-1.6%)

In my opinion the oil producing countries have intentionally driven the price down, they've said they weren't comfortable with prices as they were (above 100) because of the threat of demand destruction... so they've all increased their quotas and at the same time people worry about the economy (the elusive double-dip myth coming back just in time for the presidential election!) and that's why oil is at a pretty fair price right now. But the tendency is to overshoot too high and too low, so I would say oil will go to $85 before rebounding.