Oil up nearly 20% year-to-date
Is there a more-overlooked asset than oil this year?
It’s been written-off for dead with investment fleeing the sector but oil inventories will be rapidly drawn down in the months ahead. OPEC+ will face increasingly tough decisions about what to do and the March decision could be the difference between $60 oil or much more.
Inflation is still way off the market’s radar but an unexpected spike to $80 or higher in 2022 could flip the script.
This article was originally published by Forexlive.com. Read the original article here.