Bloomberg: "Oil ETF Sees Biggest Trading Spike Since January on Saudi Attack"

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Bloomberg: "Oil ETF Sees Biggest Trading Spike Since January on Saudi Attack"

Excerpt from Bloomberg quoting DataTrek’s Nick Colas:

…. “As unexpected as the weekend’s events were, to us it is more of a wake-up call about the energy sector than a sign that macro investment narratives are about to change dramatically,” Nicholas Colas, co-founder of DataTrek Research, wrote in a note. “It’s not the best-structured industry around and its growth prospects may be poor, but the world still uses 100 million barrels of oil a day. And when a few million of those barrels go offline, even temporarily, it’s hard not to notice”….

Read the full article here on Bloomberg!