China Oil Stocks: Hidden Trades
Tim Smalls, head of U.S. trading at Execution LLC and Charles Campbell, senior sales trader at Miller Tabak, weighed in on the best places to invest now.
“We’ve been very active on the energy side for the past month since crude was down at $48 a barrel and we’re going to continue,” Smalls told CNBC. “In this environment, companies that have a good solid management team and a history of hedging get rewarded. And Ultra Petroleum fits that bill.”
China Petroleum & Chemical
“Crude had a multi-year run up and one of the reasons was because of increasing basic demand in China,” said Campbell. “And then there was a sharp drop-off in demand after the Olympics in the third and fourth quarter, of half a million barrels a day. [But] it’s projected to increase in the second and third quarter.”
No immediate information was available for Smalls or Campbell.