2024-04-05 16:10:18 ET
Summary
- NYMEX WTI crude oil prices gained 16.08% in the first three months of 2024, settling at $83.17 per barrel on March 29.
- Crude oil has shown a pattern of higher lows since May 2023, reaching $87.50 per barrel on April 5.
- Geopolitical factors, including conflicts in the Middle East and Ukraine, support higher crude oil prices, along with potential improvements in China's economy.
- USO is an ETF that tracks NYMEX crude oil prices.
After a 10.74% decline in 2023, nearby NYMEX WTI crude oil prices gained 16.08% over the first three months of 2024. The nearby U.S. petroleum price settled at $83.17 per barrel on March 29. On April 5, the energy commodity was 4.6% higher at over the $87 level....
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For further details see:
USO: Oil At A 6-Month High And Trending Higher