Published on 19 Jan 2023 on ETF Trends via Yahoo Finance
Oil Prices Rally; Check Out RYE
This article was originally published on ETFTrends.com.
Oil prices increased on Thursday by more than a dollar per barrel, sending energy stocks higher as the broader market continues its decline.
Despite a large increase in U.S. crude oil inventories, the recent rally in energy prices has been supported by increasing demand in China. According to the latest export figures, demand in China climbed by nearly one million barrels per day in November, and energy markets are anticipated to be tighter this year, particularly if China’s economy continues to rebound.