Optimism for high oil prices for the long-term — Stockchase Weekly Top Picks

Intro

The weekly Top Picks…

As we do each week, we curated multiple sources of experts opinions to come up with our Top 5 Stocks Top Picks to Trade this Week. Our Top 5 selection is available weekly on Monday for Premium Members and on Wednesday to everyone that don’t mind the ads and the multiple pages.

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Let’s start with a short recap of the economic highlights of the week :

Geopolitical issues…

The U.S. President Donald Trump’s fresh call to implement tariffs on steel and aluminum imports from the European Union, Mexico and Canada has caused a hostile trade environment between developed economies. Euro Union issued a 10-page list of tariffs on U.S. goods and challenged the United States’ move in World Trade Organization (WTO). Amid increased U.S. supply and OPEC considering boosting production led oil prices to cool down.

U.S. economy in the peaks…

Apart from the heated trade turmoil, U.S. economy is in the peaks of its superior performance in decades. Unemployment rate in the U.S. declined to 3.8% in May 2018 the lowest rate since April 2000. Canadian Economy posted less than expected GDP rate of 1.3% (Annualized) for the first three months of 2018, but in line with the forecasts of Bank of Canada.

Unemployment rate of Canadian Economy was at its lowest level in the past four decades for the third consecutive month. Giving hopes for an interest rate rise in July the Bank of Canada removed cautious language about future rate moves.

Benefits for the long-term investors…

Strong economic activity in United States and Canada combined with high oil prices have many things to benefit the long-term investor(s) of oil and related industries.

This week’s Top Five Picks mainly focus on growing optimism for high oil prices for the long-term. Growing tensions in the middle East and OPEC’s decision to not to increase supply substantially even after oil prices rose to $80, speaks the likelihood of higher oil price for a long-time. 

This week’s 5 top picks stocks…

Geopolitical issues, rebel groups, Tensions in Israel, Iran and Syria. Venezuela out of control and a sharp energy production fall. The following are the TOP 5 Picks for the week selected from a host of Top picks from contributors.