By Vanessa Adelman Even if you expect renewables to take over, it’s likely we’ll still be using oil long into the future. As a result, oil penny stocks might have room to run right now. Analysts think oil prices will continue to climb.
Looking at a chart showing oil prices, 2008 saw its all-time high at $174.72. Right now, it sits at around $70.
April of 2020 saw prices below $20. That is an incredible bargain for this commodity. Every single time in history when oil prices got that low, there’s been a major spike. And each spike has been bigger than the last.
It’s likely …read more
