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home / news releases / USO - Oil Update - April 2024

USO - Oil Update - April 2024

United States Oil Fund

2024-05-02 06:15:00 ET

Summary

  • WTI oil prices for May are expected to range from $75 to $95 per barrel, with a narrower range of $77.50 to $87.50 per barrel.
  • Geopolitical and economic forces may dampen a rapid escalation of oil prices, with China potentially entering the picture to restrain prices.
  • The war in Israel and other global events have not materially changed the outlook for oil prices, which are still settling from OPEC+ cuts.

My expectation for West Texas Intermediate ((WTI)) oil prices for May is unchanged from April. That is, WTI should range from $75 to $95 per barrel. A narrower range is from $77.50 to $87.50 per barrel....

For further details see:

Oil Update - April 2024
Stock Information
Company Name: United States Oil Fund
Stock Symbol: USO
Market: NYSE
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