Us oil breaks above $80 signalling higher prices to come

Energy focus  The oil markets have been in intense focus recently and oil has been a major gainer on three things. 1. Falling inventories 2. Demand expected to rise on falling global COVID-19 cases and rising vaccination rates 3. Masterful OPEC handling of the crisis. The recent handling of the production levels last week was particularly good in guiding prices gently higher.  All of the above makes oil a buy on dips with $77 the break of previous resistance and a good place to manage risk from.  Invest in yourself. See our forex education hub.

Us oil breaks above $80 signalling higher prices to come

Energy focus 

The oil markets have been in intense focus recently and oil has been a major gainer on three things.

1. Falling inventories

2. Demand expected to rise on falling global COVID-19 cases and rising vaccination rates

Energy focus 

3. Masterful OPEC handling of the crisis. The recent handling of the production levels last week was particularly good in guiding prices gently higher. 

All of the above makes oil a buy on dips with $77 the break of previous resistance and a good place to manage risk from. 

oil
Invest in yourself. See our forex education hub.