Oil prices (BZ=F, CL=F) have begun to trend upward after 4 weeks of losses ahead of an OPEC+ meeting this weekend. Geopolitical conflicts, production cuts, and easing US sanctions on Venezuelan oils have contributed to downward price moments. Does this mean there is an opportunity for investors to buy in?
Marketgauge.com Chief Strategist Michele Schneider joins Yahoo Finance to discuss her recent note on crude oil and how it’s the new gold buy (GC=F)
Schneider puts commodities in perspective to understand oil her stance on oil: “Everybody got so negative on the oil because there was a 20% drop, and I think that’s what’s so dangerous when you talk about any commodity. Particularly over the last few years when commodities have become all the rage. It’s not understanding the volatility that commodities bring to the table, and 20% corrections are not unusual. Volatility is not unusual, so the reason I mentioned it as the new gold is because what we have seen with gold recently was also a huge drop, about 20, 25%…”
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
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Hey ❤❤❤❤❤
Oil stocks is up today 😊
Gold is the New Gold ✨️ 💛 👌
Buy Gold