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March 28, 2005

How to profit from higher oil prices

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Posted by Dominic Basulto

In this week's New York Magazine, professional hedge fund manager James J. Cramer explains that it's not too late to make some fast cash from the run-up in oil prices: "You can be your own OPEC! Okay, maybe that’s a little glib, but it sure beats the notion that I hear every day: that the rising price of oil is a no-win situation for American investors. You can, even after the tremendous run that crude has had, make a fortune owning a portfolio of oil and oil-related stocks..."

According to Cramer, here's five stocks worth holding: ConocoPhillips (an integrated oil major), EnCana (a Canadian oil play), Valero (a refiner), Cimarex (a wildcatter) and Halliburton.

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