- June 12, 2021
- Posted by: Stratford Team
- Category: Business
Baird Investment strategy analyst Ross Mayfield discusses commodities in the energy sector on ‘The Claman Countdown’
Oil is continued its run higher clocking the third straight week of gains and adding to the inflation concerns building on Wall and Main Street.
West Texas Intermediate crude prices topped $70.91 on Friday, a weekly gain of 11.5% and the highest level since October 2018, as tracked by Dow Jones Market Data Group. For the year, crude is up over 46%.
CONSUMER PRICES JUMP 5% MOST SINCE 2008
Ticker Security Last Change Change %USO UNITED STATES OIL FUND L.P. 48.07 +0.24 +0.50%
“The commodity strength has been one of the stories of the recovery,” Baird Investment Strategy Analyst Ross Mayfield told FOX Business, adding the run is not over.
“I do think oil continues to head higher, continues to look strong on reopening demand so anything highly linked, highly correlated, with oil price, should be a winner” he noted.
HOW BITCOIN CAN…
