Oil on a Significant Upward Swing in Early 2016

Texas Energy Mutual pic

Texas Energy Mutual
Image: texasenergymutual.com

Texas Energy Mutual, LLC, headquartered in Grapevine, Texas, maintains a prominent role in the oil and gas industry. Among the company’s current projects is a five-well exploration and drilling program centered in Okfuskee and Creek Counties in Oklahoma. Dedicated to maximizing investor returns, Texas Energy Mutual, LLC, maintains a strong focus on current trends in the energy sector.

As reported in the Wall Street Journal in March 2016, a number of hedge funds have turned bullish on oil. The growing opinion among financial managers was that a global crude oil oversupply dynamic was turning the corner. At the time of the Wall Street Journal article, the price of oil hovered just under $35 a barrel, and it was expected to stabilize at around $40.

By late May, this prediction had borne fruit, with the global Brent benchmark trading at over $48 a barrel on the New York Mercantile Exchange. This sharp rise reflected a surge in oil futures related to supply issues in Canada and Africa, coupled with US production declines.

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