[Mish's Daily] Will Oil Prices Continue to Climb?

June 23, 2021
Will Oil Prices Continue to Climb?
Written by Forrest Crist-Ruiz

Since the lows, in March 2020 the stock market has made a huge rally and has broken to new highs in all the major indices.

Trillions of dollars have been spent to keep the economy in a strong recovery and bullish phase.

This has pushed most sectors beyond price levels before the crash.

Now with over half of the U.S population fully vaccinated, traveling has surged along with gas prices.

However, the U.S Oil Fund ETF (USO) is one sector that never fully recovered.

This could present another investment opportunity if gas prices continue to climb along with its use.

One caveat leans back onto supply chain and scaling disruptions in travel-related industries.

Bye for now,

Mish and Forrest

MICHELE SCHNEIDER
Director of Research & Education
MarketGauge

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