Tuesday’s ETF To Watch: DJ U.S. Oil & Gas Exploration And Production ETF (IEO)

Although the global economy remains shaky to say the least, commodity prices have been soaring as worries over the U.S. dollar continue to dominate the market. Oil prices have held up especially well considering the possibility of a reduction in demand in the foreseeable future and are currently trading around the triple digit mark. This strength in energy prices has helped to boost earnings for a variety of firms tied to the oil and gas industries be it companies that engage in drilling or exploration of these resources. In fact, before the bell yesterday, Baker Hughes, a major driller of energy resources, reported a massive earnings increase as profits at the company nearly tripled from one year ago. This strength in the corporate side of the energy story has put pressure on a variety of other names in the field as well, many of which are reporting earnings later on [...] Click here to read the original article on ETFdb.com. Related Posts: Wednesday’s ETF To Watch: iShares Oil & Gas Exploration & Production Fund (IEO) IndexIQ Debuts Global Oil Small Cap ETF (IOIL) Daily ETF Roundup: GDX Tumbles, UNG Marches Higher Will Iraqi Oil Deals Boost Energy ETF? Jefferies Launches Wildcatters ETF (WCAT)