“The cold fundamentals are somewhat in contrast to the large inflows of hot money,” Citibank analysts said.

Looking at a more long-term outlook, energy investors should not expect outsized gains to last as the Organization of the Petroleum Exporting Countries, or OPEC, anticipates oil prices to trade below $100 over the next decade.

A price of “$100 is not in any of the scenarios,” a delegate at the OPEC strategy presentation said, according to the Wall Street Journal.

United States Oil Fund

For more information on the oil market, visit our oil category.

Max Chen contributed to this article.

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