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Should You React to Rising Oil Prices?The price
of oil has fluctuated widely over the past few years, soaring to record or
near-record highs one month, then receding to more manageable levels the next.
Predictions are for oil prices to remain high and creep higher in the near
future. One OPEC official has even warned that the price per barrel could top
$80 during the next two years, albeit temporarily.¹ When oil prices rise, drivers feel it in their pocketbooks — but that's merely the beginning of how oil prices affect the economy. Oil is priced into the cost of nearly every product and service available in the United States. It plays a role in the manufacture and distribution of everything from paper towels to computer parts. As a result, most companies in business today are affected by fluctuating oil prices. Wall Street keeps a close eye on oil prices. Should you? Less
Toil for Oil
Even if the energy sector is not part of your portfolio, the price of oil can affect your other holdings. Any decision to adjust your portfolio in response to rising oil prices should be based on your long-term financial strategy. 1) AFP,
March 3, 2005 |
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