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NRGO - Weekly Energy Recap: Oil Market Upswing Continues As Demand Outpaces Supply
Bank of Montreal ZC SP ETN REDEEM 25/03/2039 USD 50 - Ser E NRGO
Oil prices have risen for the fourth consecutive week.
WTI closed the week at $71.64 per barrel. Brent crude price closed the week at $73.51 per barrel, its highest level since the end of October 2018.
Breaching the $70 per barrel mark means that hedge funds boosted their positions to pre-pandemic levels, encouraged by signs of a rapidly recovering global economy and continued output restraint among US shale producers.