Will oil rise again this week? [Video]
|WTI crude oil has had a strong recovery since the record lows last year. A combination of vaccine rollouts and expectations of increasing oil demand have kept oil bought on dip buyers. The seasonal dynamic for WTI is also positive for oil over the last 10 years. From May 04 through to May 20 WTI crude has gained seven times in the last ten years. The average return has been +4.32% with a 164.05% annualised growth rate.
Trade Risks:
-
The main risk to this trade is on a negative risk tone that weighs on oil prices.
-
The emergence of a vaccine-resistant COVID-19 variant will also weigh on stocks.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.