In this video, Motley Fool energy and materials analyst Taylor Muckerman gives us two major stories coming out of the energy sector today. The first is about how Magnum Hunter Resources (NYSE: MHR) popped 6% after announcing that its subsidiary would increase its stake in the oil-rich Bakken Shale formation by 20,000 acres, and when we can expect to see increased production from the acquisition. The second report is about China, already the consumer of more than 40% of the world's copper, recently announced massive infrastructure project spending, which could push the demand for copper up 36% over the next 10 years and result in a short-term supply shortfall that could drive copper prices up.
Joel South has no positions in the stocks mentioned above. Taylor Muckerman has no positions in the stocks mentioned above. The Motley Fool owns shares of Freeport-McMoRan Copper & Gold. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
More from The Motley Fool
Could Freeport-McMoRan, Inc. Be a Millionaire Maker Stock?
The simple answer is yes, Freeport-McMoRan could be a millionaire maker stock... but there's a lot of risk that goes along with that
Is Freeport-McMoRan Inc. a Buy?
Copper and gold miner Freeport-McMoRan's shares rocketed higher at the end of 2017. Are they worth buying today?
Why Freeport-McMoRan Inc. Stock Exploded 36% Higher in December
The stock of copper miner Freeport had a great year in 2017, but almost all of the gain came in the final month.