Boomin Oil 🛢

Table of Contents

Boomin Oil

Oil has had quite the past year and a half, and today it’s making some moves once again. But before we look at that, let’s see how we got here. First and foremost, and by far the most iconic moment involving oil in the past 18 months came at the onset of the COVID-19 pandemic, specifically on April 20, 2020. On this date, oil prices plunged so low that the WTI crude oil contract dropped 306% to a historic low of negative $37.63. What this meant that there was such an excess of oil caused by heating competition between Saudi Arabia and Russia (the biggest oil suppliers in the world) that supply outpaced demand greatly. At that price, you would have been paid to take the oil! Truly crazy stuff. Since then, oil has made a rebound and slowly increased in price, and although there has been some hiccups along the way like with any investment, it’s safe to say oil is doing a lot better than before.

Most recently, this trend has continued strongly. In fact, oil is expected to continue to move higher in a volatile and bullish manner. Despite these bullish predictions not everyone is so bullish… the reasoning for this lack of confidence is that oil is an international commodity, and the US is not in control in the lions-share of reserves, therefore news must be looked at and followed on a much larger scale. And because the fate of oils pricing lies in the hands of OPEC (who control the production of oil), and they base how much oil to produce in large part off of  overseas supply and demand – the continued raging of the pandemic in places like India are not helping a bullish case.

Despite this the market has been seeing an overall surge in demand with production staying largely stagnant, sending prices higher. What do you think about oil? And will you be investing? Or is it too much of a wild card now?

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

Share:
More Posts
Get your daily Invstr Crunch

Get the market news and updates you need, delivered to your inbox or available on our daily podcast.

Risk Disclosure:

Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

Investing involves risk and can lead to losses. Past performance does not guarantee future results.

Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

Watchlists provided when users first access the service are not a recommendation to invest. Instead they are provided to help users better navigate the service. Users are free to edit and create their own watchlists. From time to time, Invstr will suggest instruments solely based on an individual’s interest and the interest levels of the Invstr community. The statistical and portfolio builder models generated by Invstr do not reflect actual investment results and are not guarantees of future results. Comments provided by Invstr leaders, influencers or members of the Invstr Community are not recommendations and should not be construed as such. Invstr does not endorse the content or the positions posted by them. Their investment approach, and that of the models provided by Invstr, may be different from yours and may not be appropriate for you.