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Tuesday, November 4, 2008

Oil and Natural Gas Prices Up 11/04/08

Today, 11/04/08, Oil and Natural Gas prices are rising with the stock market. At 11:45est time, the price of Oil is up $5.35 to $69.25 and the price of Natural Gas is surging .44 to $7.28. This is the first time natural gas has traded above $7 for some time now. As you probably know, in July 2008 Oil was over $140 per barrel and Natural Gas was around $14. This caused a huge shale drilling boom in the United States and Canada. People in Louisiana and East Texas were striking it rich with the Haynesville Shale. People in Pennsylvania were striking it rich with the Marcellus Shale. People in North Dakota were striking it rich with the Bakken Shale.

Could this finally be the turn up in energy prices? If the stock market continues to surge, look for energy prices to follow. The companies drilling each of these shale plays will see their stock prices run back up. You can get a full list of companies drilling at each of the shale fields on my other website, http://oilshalegas.com

Some of the stocks that I like:

XTO Energy XTO
Chesapeake Energy CHK
Continental Resources CLR
Anadarko Petroleum APC
Petrohawk Energy HK

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