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Future prices for a barrel of West Texas Intermediary Oil. Oil prices say a lot about the state of the economy. Not only does the energy sector consist of many of our largest companies, but oil (still) powers much of the day-to-day movement happening in our economy.
Oh, plus it’s still one of the biggest factors in international relations and conflicts around the world. Recently, due to the COVID-19 pandemic, oil prices were negative for the first time ever.
They’ve since turned positive again, but these unprecedented times still raise the question what the heck is going on with oil.