Energy

What to watch as WTI breaks $69 a barrel

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It’s been a volatile week for crude oil.

West Texas Intermediate was under pressure again on Friday for a second day in a row, falling below $69 a barrel, though it remained on pace for a nearly 1% gain for the week.

These moves in the commodity come as the U.S. encouraged OPEC and its allies to increase their output in order to lower prices and fuel an economic recovery. On top of this, the International Energy Agency also lowered its forecast for demand in oil for the rest of the year as Covid cases spike again. 

In an interview with CNBC’s “Trading Nation,” Tocqueville Asset Management portfolio manager John Petrides gave his outlook on the energy market. 

“The energy sector was brought…



Source cnbc.com

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