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Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E YGRN
I am increasing my February West Texas Intermediate oil price forecast by $10 to $57.50 to $67.50 per barrel for March 2021.
I was too conservative in my prior estimate. Oil prices moved faster and more aggressively than I expected.
The reason for my latest increase is that COVID-19 cases are coming down quickly and warmer weather will mean that people will be spending more time outdoors, where they are less likely to contract the illness.