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home / news releases / GUSH - Expect Oil Prices To Remain High And To Possibly Move Higher

GUSH - Expect Oil Prices To Remain High And To Possibly Move Higher

Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 3X Shares

2024-03-30 12:02:31 ET

Summary

  • Brent crude prices are up 12.1% YTD, while WTI crude prices are up 15.6%.
  • OPEC estimates suggest a production shortage, creating a potential increase in oil prices above $100 per barrel.
  • The EIA forecasts a smaller production shortfall and expects Brent crude prices to average around $83 per barrel.
  • This creates a favorable risk/reward scenario for those who are long oil and oil-related companies.

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For further details see:

Expect Oil Prices To Remain High And To Possibly Move Higher
Stock Information
Company Name: Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 3X Shares
Stock Symbol: GUSH
Market: NYSE
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