Emerging markets need petroleum to fuel their progress. But with crude surging to new highs how much longer can they withstand oil’s super-spike?
There appears to be no end in sight to demand for oil in the developing world, explains emerging markets trader Tim Seymour. In fact the shippers and the rails are booming on emerging market demand despite the fact that oil is setting record after record.
You pick the trading route and it’s packed to the gills, he adds. That’s because a lot of these countries are stockpiling grains, oil and other commodities.
As a result the shippers and rails (which move commodities) are maintaining their outlook even in the face of oil’s recent rise. In the space check out Genesee & Wyoming which moves grains from Australia to China, he counsels.