Oil prices have been in decent shape lately. Though the news of continuation of China's zero-Covid policy cast a pall over oil prices on Monday, it is likely to be a short-term drag.
Oil prices rallied on Wednesday as OPEC+ producers agreed deep output cuts.
Oil prices increased considerably on Sep 5 as OPEC+ producers agreed a small oil output cut.
Oil prices have soared to their highest levels in many years due to geopolitical tensions in Europe and the Middle East. Sudden jump in production is also unlikely.
ProShares, a premier provider of ETFs, announced today reverse share splits on six of its ETFs. The splits will not change the total value of a shareholder’s investment.