Oil Drop ๐Ÿ›ข

Oil Drop

Oil is one of the most integral resources to the functioning of the modern world, without it, many things would cease to function and exist. This resource is traded globally as a commodity.

Since COVID-19 began oil had been largely tied to the virus and moved up on good news and down on bad news. This trend primarily exists because when people go out more, many industries start using more electricity, thus increasing the oil demand. Over the past few months, oil has performed positively, surging nearly 50% since October. Despite this, however, the future may hold a more bearish outlook and a reversal may be coming.

This is largely part due to the new COVID-19 strains and that due to limited vaccine coverage it is becoming difficult to stop the transmission of the virus. The number of deaths in the United States has just passed 400,000 serving as a stark reminder of the long road ahead before the world emerges from the pandemic. On top of this, the long-term outlook for oil also looks somewhat bearish for many investors as President Biden’s revoking of the Keystone XL oil pipeline and his rejoining the Paris climate agreement both hinder oil consumption.

In the broader picture, however,ย  it seems that general markets are comparatively unaffected by the virus and other political events. Commodities seem to be playing the stock market logically and traditionally.

Will you be holding any commodities? Or will you stick to companies, crypto, or other assets.

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 Visaยฎ 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.