What a year for oil prices it’s been! After a massive bear market and spectacular reversal in April OIL.WTI has been rallying incredibly and has just tested $40 for the first time in 3 months. This equals a gain of over 100% in just 5 weeks! Will this rally last? The OPEC+ has just extended production cuts for another month and investors hope that economic revival will boost demand. On the other hand, US production is set to increase with prices close to present levels. Having said that, the trend is strong and there are no clear signs of reversal – at least not yet.
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
