Is the oil price heading for $100 again?

Not so very long ago, the oil price went negative. But in the last three months alone it’s risen by 50%. And while it may take the odd breather here and there, there’s no doubt it’s heading higher, says John Stepek.

Petrol station
We'll be using oil for some time to come yet
(Image credit: © Keith Mayhew/SOPA Images/LightRocket via Getty Images)

I find markets endlessly fascinating. One minute, an asset is dead in the dirt. No one wants it. If you hold it, you’re a fool. It’s practically radioactive. The price might be low, but it’s not cheap. It’s yesterday’s asset.

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John Stepek

John Stepek is a senior reporter at Bloomberg News and a former editor of MoneyWeek magazine. He graduated from Strathclyde University with a degree in psychology in 1996 and has always been fascinated by the gap between the way the market works in theory and the way it works in practice, and by how our deep-rooted instincts work against our best interests as investors.

He started out in journalism by writing articles about the specific business challenges facing family firms. In 2003, he took a job on the finance desk of Teletext, where he spent two years covering the markets and breaking financial news.

His work has been published in Families in Business, Shares magazine, Spear's Magazine, The Sunday Times, and The Spectator among others. He has also appeared as an expert commentator on BBC Radio 4's Today programme, BBC Radio Scotland, Newsnight, Daily Politics and Bloomberg. His first book, on contrarian investing, The Sceptical Investor, was released in March 2019. You can follow John on Twitter at @john_stepek.