The main exchange-traded fund holding oil stocks is up more than threefold from the low it hit early in the pandemic. Don’t expect to ride it higher.
West Texas Intermediate crude is now at about $78 a barrel, up from negative territory in April 2020. But WTI, and oil stocks, just can’t seem to surpass certain levels. Both of those levels are so-called long-term resistance, or points at which sellers have come in for more than 10 years now. Worse news in the Middle East or better-than-expected economic demand could send oil prices and stocks up toward those resistance levels, but it would take a significant surprise on either front to send prices above them.
ایران آخرین اخبار, ایران سرفصلها
Similar News:همچنین می توانید اخبار مشابهی را که از منابع خبری دیگر جمع آوری کرده ایم، بخوانید.
Stock Market Today: Stocks extend run as markets see Fed rate cuts on the horizionStocks will enter this week much as they ended last, with investors looking for Fed rate cuts amid a modestly slowing economy and a cooling labor market.
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Stock Market Today: Stocks slide, Treasury yields rise as bears test peak rate betsStocks are closely tracking Treasury yields Tuesday, ahead a key three-day run of new bond auctions, as markets test recent bets on peak Fed rates.
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