Warren Buffett's Favorite Stock Nears Buy Point. Energy Plays Refuel As Oil Tops $85

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Jun 17, 2007
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Warren Buffett-backed Occidental Petroleum approached a buy point Tuesday as energy stocks appear to be picking up steam with oil prices trading solidly above $80 per barrel. Oil prices have advanced steadily since early February as indications point toward growing demand in China. The number shows only modest expansion, but is a marked turn from the previous four months as concerns about China's economy weighed on oil prices.
 
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