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Exxon Mobil (NYSE: XOM) is back above its 200-day moving average.
Chart Courtesy of StockCharts.com
Energy traders are moving back into Exxon Mobil and the rest of the oil and natural gas posse these days.
The potential for supply squeezes in the future, as well as cold weather seem to be getting the nod these days with analysts getting increasingly bullish.
There is little doubt about, Peak Oil or not, some areas of the world are starting to see decreasing supplies of crude.
These include Mexico, Indonesia, and the North Sea.
With Venezuela, Nigeria, Iran, and Russia becoming increasingly hostile areas, it's also difficult to get oil out of places where it's relatively plentiful, or available.
Yet, with oil companies, profits follow a simple formula. If they bring it out and can pass on the costs, they make money.
And right now, that seems to be a formula that is holding up.
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