Oil Futures Top $90; Oil ETF Follows Accordingly

January 25th at 12:00pm by Tom Lydon

Oil_1 The price of oil and related exchange traded funds (ETFs) is on the climb again.

Today, futures jumped back over the $90 line, based on the view that recession fears might have been overblown. Energy investors seem to be feeling good about the recent action taken by Congress and the Federal Reserve to right the economy, reports John Wilen for the Associated Press.

Another contributor to the price jump is the word that oil demand in China grew by 6.4% in December. United States Oil (USO) feels the activity – it finished yesterday higher, and so far today, it’s up:

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The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.

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