Wednesday’s ETF To Watch: Oil Service HOLDR (OIH)

One of the biggest stories from the second quarter of the year was the Deepwater Horizon oil spill which continues to contaminate the Gulf of Mexico. As embattled oil giant BP prepares to finally seal off the well, the focus moves from containment to blame which has put a variety of companies in the spotlight of both the government and shareholders. In addition to shaving close to $70 billion off of BP’s market cap, the disaster has put the oil service industry into focus with companies growing increasingly concerned over the extent of an offshore drilling ban as well as their costs for the cleanup of the spill [also see Uncertain Future For Energy ETFs]. Despite the spill and the potential loss of business, companies in the sector have reported robust earnings so far this quarter. Two of the biggest names in the industry, Halliburton (HAL) and Schlumberger (SLB), posted extremely [...] Click here to read the original article on ETFdb.com. Related Stories: Thursday’s ETF To Watch: Internet HOLDR (HHH) Oil Service ETF (OIH) Sinks On Oil Spill Disaster Three ETFs To Watch This Week: IAH, FXB, OIH