We have seen recently that Singapore Petroleum rise to a new high of 8.80 yesterday. Right now, most of the positive driver for the stock is due to high oil prices as oil drifts to a high of around USD 87.
I would like to urge readers who plan to invest in oil stocks, unit trust to be careful as a wave of correction could be coming. Although the supply situation could tighten long term as i would believe, we might still be far from the end game scenario.
At this juncture oil prices, like gold prices can be due for a correction.
Do add to your core holdings through discipline approach and not be enticed to speculate on the price of oil.
I will continue to hold on to SPC in my OA acct for the time being.