OILX (UBS ETRACS S&P GSCI Crude Oil Total Return Index ETN) is no longer actively trading.
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After several months of debate and preparations, the United States and other G7 nations introduced a price cap on Russian crude oil on December 5. Following the introduction of sanctions this spring, Russia mostly redirected its oil exports to China, India, and Turkey.

I am structurally bullish on gold and oil with a multi-year timeframe. Between the two, gold likely has the advantage fundamentally and in terms of current momentum over the next 6-12 months.

As prices rise, consumers are put under extreme pressure to keep their normal standard of living. As inflationary pressures continue, consumers make necessary sacrifices to manage their budgets – often going into debt in the process.

Oil and gas producing countries across the world are rolling out policies and regulations to boost investment in emission-reduction technologies and decarbonization of the upstream sector. In North America and Australia, host governments pair budgetary funding of research and demonstration projects with loan guarantees and tax credits to incentivize low-carbon investment.

Melek: Prices of LNG will likely be tighter and petroleum product demand should go up. Melek: Gold is doing better than most people have thought.
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Transcripts source: company-published earnings calls. Speaker attribution and formatting are processed in-app.