Crude Oil (/CL) Has Another 10% Potential Upside

Lower yields, rates, and higher precious metals are what is driving the U.S. Dollar (/DX), says Bob Iaccino of Path Trading Partners. He sees another 10% move up in Crude oil (/CL) based on increasing demand and lower OPEC production. U.S rig counts are up 62% since November and not keeping pace with crude oil, he adds. He thinks Bitcoin (/BTC) has regulatory risk.

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09 Jun 2021

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Crude Oil (/CL) Has Another 10% Potential Upside

Lower yields, rates, and higher precious metals are what is driving the U.S. Dollar (/DX), says Bob Iaccino of Path Trading Partners. He sees another 10% move up in Crude oil (/CL) based on increasing demand and lower OPEC production. U.S rig counts are up 62% since November and not keeping pace with crude oil, he adds. He thinks Bitcoin (/BTC) has regulatory risk.

Futures

09 Jun 2021