Quiet in the Oil Patch

It's quiet in the oil patch this morning.

I'll be away from my computer all day, so updates may be few during the day, but I will be back this evening.

For those who are concerned about the price of oil dropping $3.00 yesterday, you may want to listen to the Morgan Stanley analyst, taped yesterday. He feels the floor for the price of oil is around $74 and could see the price of oil rising to $95 by the end of the year. When pressed on that figure, it was unclear to me how committed he was to that figure, but he was adamant about the direction in the price of oil (up). He did say the price of oil will remain volatile.

It should also be noted, that for investors, the price of oil may have dropped significantly yesterday, but shares of many Bakken-related oil companies remained steady (some actually rose). There is a lot more to this than just the price of oil.