2 days ago
#Oil and oil #stocks are rebounding sharply $xop #crude #trading
Oil prices and stocks are showing great momentum, outperforming major indices yesterday and very likely this morning. The elements underpinning this strength are a recent report that China is willing to shorten quarantine time for inbound visitors, improving growth prospects and news that Macron apparently warned Biden that neither Saudi Arabi nor the UAE can ramp up oil output. Oil stocks (XOP) rose nearly 5% yesterday and are set to head higher today as oil prices continue their upward move.