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SZO - Oil Is Holding: Oil Equities Are Downright Cheap And A Look At ERX
DB Crude Oil Short ETN
Each time the crude oil futures market approaches the $50 per barrel level, it looks like déjà vu from the final quarter of 2018 these days. Last year, the price of nearby NYMEX futures cascaded lower from $76.90 in early October to a low at $42.36 per barrel in late December.
On Sept. 14, we received a reminder of how volatile the price can become at times. The price of NYMEX December futures rose from $54.18 per barrel on Sept. 13 to a high at $62.74 on Sept. 16 when the market reopened after the