The price of West Texas Intermediate (WTI) has been raising since the start of the year. And it is showing stability at the $60/barrel price point and it could give investors some renewed hope for the industry.
During the pandemic, investors may recall that oil prices even briefly dipped into negative territory. Now, with health officials administering COVID-19 vaccines and a potential end to the pandemic and some sort of normalcy resuming this year, demand for travel could be huge in 2021. And that means oil prices could continue to rise as consumers make up for lost time.
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