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  • Does Buffett See A Bottom In Oil Prices

    01/19/2016 7:53:14 AM PST · by bananaman22 · 11 replies
    Oilprice.com ^ | 19-01-2016 | rak
    Warren Buffett has been consistently wrong on oil, but many experts are calling a bottom on oil prices now that the investor extraordinaire has upped his ante in Phillips 66, betting that he can’t be wrong three times in a row. Buffett’s Berkshire Hathaway Inc. paid some $390 million for another 5.1 million shares of oil refiner Phillips 66 this month, boosting its investment to 65.68 million shares that today are worth around $5.21 billion. Phillips 66 shares closed up at $4.03 (5.4 percent) at $79.28 on the New York Stock Exchange on the deal. Experts have been calling the...