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Stock impact report

Forget Buying USO Stock: Buy This Oil Stock Instead [The Motley Fool]

ConocoPhillips (COP) 
Last conocophillips earnings: 4/30 07:00 am Check Earnings Report
Company Research Source: The Motley Fool
Oil prices have gone berserk in the past week. The May contract for West Texas Intermediate, which is the main oil price benchmark,plunged into negative territory on Monday. Like a game of musical chairs, oil price speculators were in a mad dash to unloadoil futures contractsbefore they expired and had to take physical delivery of the oil. Withstorage space running out, they needed to pay a high price to exit these failed bets that oil would rebound.Oil would rally from that bottom as speculators placed new wagers that the industry would solve its looming storage crisis with additional production cuts. One way some traders are gambling on that recovery is throughoil price ETFslike theU.S. Oil Fund(NYSEMKT:USOcould go bust if oil futures crater againWith that and the oil ETF's other issues in mind, investors should avoid using it as a means to profit from a potential oil market recovery. Instead, a better bet would be to buy a top-notch oil producer likeConocoPhillipsNYSE:COPImage sour Show less Read more
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