One NRGU stock price loaded more than 45% on its Friday price ($6.96) in pre-market on Monday June 8. The major factor for this spike is a opening up combined with increased oil prices. And with a lot of chatter on this ETF price will probably increase for the rest of the day with a small selloff in a midday.
According to Faisal Faeq:“In 45 days, from April 20 to June 5, WTI prices moved from nearly -$40 to +$40 per barrel.” which is pretty much enough to make the energy stocks surge again. If you invested early, at least a week ago your ROI will probably go through the roof this week.
The oil prices have continued their rapid recovery of the past few weeks and have temporarily risen to the highest level since the beginning of March.
The oil cartel Opec and its partners had decided on Saturday to extend the restriction of oil production by another month.