Benchmark weekly prices for stock market indexes and energy ETFs.
Brent and WTI oil prices.
Drilling rig counts.
Shipping daily transport rates.
The drilling rig counts and shipping rates are especially important to get a feel for whether or not energy stocks will rise. If drillers and shippers are not doing well, you should probably not invest in oil stocks. This is not the case currently, though. One question that remains is how high will oil prices go? If you can figure out this answer, you will know whether to be long or short on oil stocks.
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