NRGD - Oil Price Rally May Not Last In 2021

December, 24 2020 10:49 AM MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN

News of vaccines and the Biden presidency provided optimism to investors causing the market to rally.
WTI touched almost $50 while Brent crossed $50 for the first time since March.
However, news of a new strain of COVID19 has caused panic and cast doubts on prospects of recovery.
With anticipations of another wave of lockdowns and restrictions across Europe, oil demand can face new challenges. Mobility will be seriously impacted.
Meanwhile, Libyan production has reached new highs and OPEC+ has already eased 500,000bpd. Biden's stance on China is almost the same and rigs are up. Oil prices, as we enter the new year, are bound to fall.

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Company Name:	MicroSectors U.S. Big Oil Index -3X Inverse Leveraged ETN
Stock Symbol:	NRGD
Market:	NYSE