Energy

Crude oil volatility just a ‘hiccup,’ says BK Asset’s Boris Schlossberg

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Crude oil held below $70, a key psychological level, on Tuesday.

The oil market bore the brunt of a major sell-off on Wall Street to begin the week with the spread of the Covid delta variant raising fears of a slowdown in the economic recovery. OPEC and its allies over the weekend also reached a deal to boost production.

In an interview with CNBC’s “Trading Nation,” Boris Schlossberg, managing director of FX strategy at BK Asset Management, said he is long energy. 

“Despite the volatility, I continue to like the sector, because I think this is just a hiccup,” he said on Monday. “Oil is definitely going to stay pretty much at these levels, perhaps even rise a little further as the economy…



Source cnbc.com

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